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Suppose, at a given point in time, Herb's Herb Emporium is selling herbs in a perfectly competitive market and is producing at a level of
Suppose, at a given point in time, Herb's Herb Emporium is selling herbs in a perfectly competitive market and is producing at a level of output where marginal revenue is less than marginal cost. Everything else held constant, Herb can increase his firm's profits by the quantity of herbs he produces and the price he charges for them. Select one: A, decreasing; increasing B. not changing; increasing C. not changing; decreasing D. increasing: decreasing E. decreasing; not changing OF. Increasing: increasing G. decreasing; decreasing H. increasing: not changing
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