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f price is $5, marginal cost is $5, average total cost is $3, and the quantity produced is 150 units, then the perfectly competitive firm
f price is $5, marginal cost is $5, average total cost is $3, and the quantity produced is 150 units, then the perfectly competitive firm is not maximizing economic profit. earning $2 in economic profits and is maximizing economic profits. earning $150 in economic profits and is not maximizing economic profits. earning $300 in economic profits and is maximizing economic profits
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Macroeconomics
Authors: N. Gregory Mankiw, William M. Scarth
5th Canadian Edition
1464168504, 978-1464168505
