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Table 14-9 Suppose That a Firm in a Competitive Market Faces the Faces

Question 108

Multiple Choice

Table 14-9
Suppose that a firm in a competitive market faces the following revenues and costs: Table 14-9 Suppose that a firm in a competitive market faces the following revenues and costs: -Refer to Table 14-9. If the firm's marginal cost is $5, it should A) reduce fixed costs by lowering production. B) increase production to maximize profit. C) decrease production to maximize profit. D) maintain its current level of production to maximize profit.
-Refer to Table 14-9. If the firm's marginal cost is $5, it should


A) reduce fixed costs by lowering production.
B) increase production to maximize profit.
C) decrease production to maximize profit.
D) maintain its current level of production to maximize profit.

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