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Use the Following to Answer Questions

Question 234

Multiple Choice

Use the following to answer questions:
Figure: The Profit-Maximizing Firm in the Short Run Use the following to answer questions: Figure: The Profit-Maximizing Firm in the Short Run -(Figure: The Profit-Maximizing Firm in the Short Run) Look at the figure The Profit-Maximizing Firm in the Short Run. If the market price is P<sub>3</sub>, the firm will produce quantity _____ and _____ in the short run. A) q<sub>2</sub>; make a profit B) q<sub>1</sub>; break even C) q<sub>2</sub>; incur a loss D) q<sub>4</sub>; incur a loss
-(Figure: The Profit-Maximizing Firm in the Short Run) Look at the figure The Profit-Maximizing Firm in the Short Run. If the market price is P3, the firm will produce quantity _____ and _____ in the short run.


A) q2; make a profit
B) q1; break even
C) q2; incur a loss
D) q4; incur a loss

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