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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Microeconomics

ISBN: 9780077641542

11th Edition

Authors: Stephen Slavin

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Question Posted: Feb 29, 2024 07:00 AM

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If a firm is producing a level of output at which that outputs marginal cost is less

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The correct answer is c higher profits could be obtained with increased production Heres the explana...View the full answer

Microeconomics

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