If a firm is producing a level of output at which that outputs marginal cost is less
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If a firm is producing a level of output at which that output’s marginal cost is less than the price of the good, _______-.
a) it is producing too much to maximize its profits
b) it is probably maximizing its profits
c) higher profits could be obtained with increased production.
d) none of the above
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The correct answer is c higher profits could be obtained with increased production Heres the explana...View the full answer
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