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Consider this profit-maximizing firm competing in a perfectly competitive market with a market price of $4. a. If the firm produces 41 units will they

Consider this profit-maximizing firm competing in a perfectly competitive market with a market price of $4.

a. If the firm produces 41 units will they be earning an economic profit? How do you know?

b. Should the firm have produced the 41stunit? Explain your logic clearly.

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