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20. In the shortrun, a profitmaximizing competitive firm: Sets market price equal to marginal cost. Sets market price equal to average cost. Sets quantity so

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20. In the shortrun, a profitmaximizing competitive firm: Sets market price equal to marginal cost. Sets market price equal to average cost. Sets quantity so as to equate marginal cost to marginal revenue. Sets quantity so as to equate marginal cost to average cost. Sets price equal to marginal utility. EDP-PETE\

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