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2 months ago
A firm in a competitive industry faces the following short-run cost and revenue conditions: ATC = $16; AVC = $8; and MR = MC = $12. This firm should

• expand production and keep price constant.

• shut down.

• continue to operate at the same price and output level in the short run.

• decrease production and raise its price.
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Economics Today: The Micro View
Edition: 19th
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Posts: 170
2 months ago
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continue to operate at the same price and output level in the short run.
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