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What is the answer to this question: Question ) A perfectly competitive firm will maximize total profits by: a ) Producing all the output it
What is the answer to this question:
Question ) A perfectly competitive firm will maximize total profits by:
a ) Producing all the output it can at any particular price
b ) Setting price so that total revenue is at a maximum
c ) Setting price so that marginal revenue equals marginal cost
d ) Setting price so that price exceeds average total cost by the greatest amount
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