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A monopolist is currently producing an output level where price equals marginal cost, and profits are positive.In order to maximize profits, this monopolist should a)
A monopolist is currently producing an output level where price equals marginal cost, and profits are positive.In order to maximize profits, this monopolist should
a) increase production and reduce its price.
b) decrease production and raise price.
c) reduce price and let production adjust to the new price.
d) not change its output level, because it is currently earning profits.
e)shut down.
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