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A perfectly competitive firm is currently producing an output level where price is $10.00, average ...

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A perfectly competitive firm is currently producing an output level where price is $10.00, average ...

A perfectly competitive firm is currently producing an output level where price is $10.00, average variable cost is $6.00, average total cost is $10.00, and marginal cost is $8.00. In order to maximize profits, this firm should

▸ produce zero output.

▸ increase the market price.

▸ not change its output - this firm is at its profit-maximizing position.

▸ decrease its output.

▸ increase its output.

Textbook

Microeconomics

Edition: 17^th

Author: Ragan

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kokomel23 Author

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Thanks

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This helped my grade so much Perfect

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