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A monopolistically competitive firm is operating at a short-run level of output where price is $15, average total cost is $21, marginal cost is $15,

A monopolistically competitive firm is operating at a short-run level of output where price is $15, average total cost is $21, marginal cost is $15, and marginal revenue is $12. In the short run this firm should

Multiple Choice

increase the level of output.

reduce product price.

decrease the level of output.

not change the level of output.

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