Question
If a perfectly competitive firm is producing where price is equal to$18, marginal cost is equal to$18, and average variable cost is equal to$25, what
If a perfectly competitive firm is producing where price is equal to$18, marginal cost is equal to$18, and average variable cost is equal to$25, what should the firmdo, ifanything, to maximize itsprofit?
A.
increase output
B.
shut down
C.
decrease output(but not shutdown)
D.
The firm is already maximizing profit.
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The Americans An Economic Record An Economic Record
Authors: Stanley Lebergott
1st Edition
0393953114, 9780393953114
