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A Monopolistically Competitive Firm Is Producing an Output Level at Which

Question 147

Multiple Choice

A monopolistically competitive firm is producing an output level at which marginal revenue is less than marginal cost.This firm should __________ quantity and __________ price to increase profit or reduce losses.


A) increase, increase
B) increase; decrease
C) decrease; increase
D) decrease; decrease
E) increase; not change

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