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Which of the following statements are correct? (Select all that apply) a.Producer surplus and profits only differ by the firm's fixed cost term. b.The firm
Which of the following statements are correct? (Select all that apply)
a.Producer surplus and profits only differ by the firm's fixed cost term.
b.The firm can have negative profit and positive producer surplus
c.The firm has positive producer surplus even when shut down conditions are met.
d.The output level that maximizes producer surplus also maximizes profits.
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