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In the standard model of pure competition (e.g., a price-taker market), a profit-maximizing firm will produce the output quantity in the short run where the

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In the standard model of pure competition (e.g., a price-taker market), a profit-maximizing firm will produce the output quantity in the short run where the gap between: Select one: O a. Marginal revenue and marginal cost is the largest, with revenue higher than cost O b. Total revenue and total cost is the largest, with revenue higher than cost O c. Average revenue and average cost is the largest, with revenue higher than cost O d. Average revenue and average variable cost is the largest Clear my choice

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