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The following information is available for a company that operates in a perfectly competitive market. Current output 5000 units Current market price $5 Total cost
The following information is available for a company that operates in a perfectly competitive market. Current output 5000 units Current market price $5 Total cost $25,000 $5 Total variable cost $20,000 Marginal cost What is the best action for this rm? 0 Increase output in the short mn and exit the market the long an ' Increase output in the short run and stay in the market in the long run 0 Reduce output in the short run and exit in the long run 0 Reduce output in the short run and stay in the market in the long mn 0 Shut down in the short mn and produce in the long mn
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