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19 Feb 2018
A perfectly competitive firm is producing at an output level where marginal cost is $8 and average total cost is $7. The current price of the good is $7.5. To maximize its profit, this firm should Assume that the firm is currently operating in the increasing portion of the marginal cost curve. A. increase its output B. raise its price C. raise its price and decrease its output D. lower its price E. decrease its output
A perfectly competitive firm is producing at an output level where marginal cost is $8 and average total cost is $7. The current price of the good is $7.5. To maximize its profit, this firm should Assume that the firm is currently operating in the increasing portion of the marginal cost curve. A. increase its output B. raise its price C. raise its price and decrease its output D. lower its price E. decrease its output
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21 Feb 2018
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