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he charger How much pron 3.5 (Related to the Don't Let This Happen to You on page 418) A student examines the following graph and

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he charger How much pron 3.5 (Related to the Don't Let This Happen to You on page 418) A student examines the following graph and argues: "I believe that a firm will want to produce at Q1, not at Q2. At Q1, the distance between price and marginal cost is the greatest. Therefore, at Q1, the firm will be maximizing its profit." Briefly explain whether you agree with the stu- dent's argument. Price MC and cost ATC P D = MR 0 Q1 Q 2 Quantity

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