Which of the following is a second-order condition of short-run equilibrium of…

For a firm to maximize profit under perfect competition, two conditions must be satisfied. First, the first-order condition requires Marginal Cost (MC) to equal Marginal Revenue (MR). Second, the second-order condition ensures this equilibrium point represents a maximum profit rather than a minimum. This requires that at the intersection of MC and MR, the Marginal Cost curve must be rising faster than the Marginal Revenue curve. Mathematically, the slope of MC must be greater than the slope of MR at the equilibrium quantity.