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Title: Suppose Robin's Clock Works produces in a perfectly competitive market. Suppose the average total ... Post by: sinerus on Aug 29, 2017 Suppose Robin's Clock Works produces in a perfectly competitive market. Suppose the average total cost of clocks is $95, the average variable cost of clocks is $90, and the price of clocks is $85. If the firm is producing the level of output where marginal cost equals price, then in the short run the firm
A) should continue to produce since total revenue exceeds total variable cost. B) is earning a positive economic profit. C) can increase profit by increasing output. D) should shut down. Title: Re: Suppose Robin's Clock Works produces in a perfectly competitive market. Suppose the average ... Post by: trumpetsoflife on Aug 29, 2017 Content hidden
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