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Home Q & A Board Other Fields Homework Help Business Economics
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johnboycs johnboycs
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A year ago
Suppose that in a perfectly competitive industry, the market price of the product is $6. A firm is producing the output level at which average total cost equals marginal cost, both of which are $8. Average variable cost is $4. To maximize its profits in the short run, the firm should

▸ expand its output.

▸ reduce its output.

▸ shut down.

▸ leave its output unchanged.

▸ There is insufficient information to know.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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stanka82stanka82
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A year ago
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johnboycs Author
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A year ago
Helped a lot
amandamraz
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Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
yen
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2 hours ago
Just got PERFECT on my quiz
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