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villain villain
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2 years ago
Suppose a perfectly competitive firm is producing a level of output for which price equals average total cost, and average total cost is less than marginal cost. In order to maximize its profits, the firm should

▸ expand its output.

▸ reduce its output.

▸ increase the market price.

▸ produce zero output.

▸ not change its output.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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aupadhay287aupadhay287
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