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Multiple Choice Question At a profit-maximizing level of output of 25 units, a perfectly competitive firm's marginal revenue is $4, average variable cost is $.30,
Multiple Choice Question At a profit-maximizing level of output of 25 units, a perfectly competitive firm's marginal revenue is $4, average variable cost is $.30, average total cost is $1.22 and marginal cost is $3.75. This firm's economic profit equals O $3.70 O $92.50 O $69.50 O $6.25 O $.25
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