Multiple Choice
Assuming price is greater than long-run average cost in the long run, the firm will maximize profit if:
A) marginal profit is zero and marginal revenue is below marginal cost at higher output levels.
B) marginal profit is zero and marginal revenue is greater than marginal cost at higher output levels.
C) marginal profit is zero and marginal cost is decreasing.
D) marginal profit is zero and marginal revenue is decreasing.
E) marginal profit is zero.
Correct Answer:

Verified
Correct Answer:
Verified
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