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Exhibit 23-10 Output (Q) Total Revenue Total Cost 0 $0 $10 1 25 40 2 50 60 3 75 70 4 100 75 5 125
Exhibit 23-10 Output (Q) Total Revenue Total Cost 0 $0 $10 1 25 40 2 50 60 3 75 70 4 100 75 5 125 85 6 150 110 7 175 140 8 200 180 Refer to Exhibit 23-10. Is the firm depicted here a perfectly competitive firm? Group of answer choices No, because marginal cost is not constant. No, because marginal cost falls for some levels of output and rises for other levels of output. Yes, because marginal revenue is constant. Yes, because total revenue increases as output increases
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