At present output levels, a firm in a perfectly competitive industry is in the following position: output 1000 units, market price $3, total cost- $6000, fixed cost $2000, marginal cost $3. To achieve optimum output, the firm should: OA reduce output but keep producing , increase its selling price. OC. leave output unchanged. reduce output to zero QUESTION 10 If the monopolist operated in the inelastic range of its demand curve: OA. t could raise total revenue by lowering price OB marginal revenue would be negative C. it could increase its profit by lowering its price and increasing output it could increase its profit by increasing both price and output D