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28. If a perfectly competitive firm is producing a quantity that generates MC 28. If a perfectly competitive firm is producing a quantity that generates

28. If a perfectly competitive firm is producing a quantity that generates MC

28. If a perfectly competitive firm is producing a quantity that generates MC < MR, then profit: is maximized. a. b. can be increased by increasing production. can be increased by decreasing production. c. d. can be increased by increasing the price.

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