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For this exercise, assume that the rm in discussion continues operations. A perfectly competitive rm is producing 100 units of output. The market price is

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For this exercise, assume that the rm in discussion continues operations. A perfectly competitive rm is producing 100 units of output. The market price is $18, and its ATC is $22. In the long run. the market price will be _______ and the rm's output will be 0 more than $18, more than 100 units 0 less than $18, less than 100 units 0 more than $18, less than 1CD units 0 less than $18, more than 100 units When a rm has diminishing marginal returns its marginal cost _______ . When a rm has decreasing returns to scale. its long run average total cost _______ . 0 increases, increases 0 decreases, decreases 0 decreases, increases 0 increases, decreases

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