A firm is producing 10,000 units of output. Price at this output level is $16.00 for each unit, and marginal revenue is $13.00. The average
A firm is producing 10,000 units of output. Price at this output level is $16.00 for each unit, and marginal revenue is $13.00. The average per unit cost is $12.00, and the marginal cost is $12.50. From this information, we can conclude that the business
A. Enjoys economies of scale
B. Is maximizing profit at this level
C. Should produce less
D. Should produce more
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Authors: James Stewart
8th edition
1285741552, 9781305482463 , 978-1285741550
