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b) Briefly explain why the firm must set MR = MC (MC increasing) to maximize profit or minimize losses c) To maximize profits, this firm

b) Briefly explain why the firm must set MR = MC (MC increasing) to maximize profit or minimize losses c) To maximize profits, this firm should produce baseballs, and the firm will earn in profits. d) This firm will earn a producer surplus equal to e) This firm should suffer a loss if the price of baseball falls below

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