Multiple Choice
A competitive firm operating in the short run is producing at the output level at which ATC is at a minimum. If ATC = $8 and MR = $9, to maximize profits (or minimize losses) , this firm should:
A) increase output.
B) reduce output.
C) increase price.
D) do nothing; the firm is already maximizing profits.
Correct Answer:
Verified
Correct Answer:
Verified
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