diagram above. Based on the information illustrated in this graph, which of the following is an accurate statement? Question 16 options: a) production should keep expanding because MR is always less than MC b) profits will be reduced by production in the zone where MC exceeds MR c) because this is a perfectly competitive firm, the profit maximizing rule is not P = MR d) because this is a perfectly competitive firm, the profit maximizing rule is not P = MC