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Mark owns a cattle ranch near Hugo, Oklahoma. Mark is currently producing beef at an output level wh

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Mark owns a cattle ranch near Hugo, Oklahoma. Mark is currently producing beef at an output level wh

Mark owns a cattle ranch near Hugo, Oklahoma. Mark is currently producing beef at an output level where marginal revenue exceeds marginal cost. In order to maximize his profit, Mark should
A) not change his output.
B) decrease his output.
C) increase his output.
D) shut down his ranch.
E) probably change his output, but more information is needed to determine if he should increase, decrease, or not change it.

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Essential Foundations of Economics

Edition: 7^th

Authors: Bade, Parkin

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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.

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Smoooth

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My pleasure Happy Dummy

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