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It is the month of December, which is past the peak season for producing rye. At the current level of output of 600 units of
It is the month of December, which is past the peak season for producing rye. At the current level of output of 600 units of wheat, the following data exists: Price = $8 Marginal cost = $6 Marginal Revenue=$6 Average variable cost = $10 Average total cost = $12 Based on these figures, as a microeconomist, what would you advise this firm to do? The firm should continue to produce more wheat. The firm should shut down operations. Not sure. The firm should raise the price and make a loss
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