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If a Firm in a Perfectly Competitive Industry Maximizes Profit

Question 79

Multiple Choice

If a firm in a perfectly competitive industry maximizes profit by producing 100 units and the marginal cost of the 100th unit is $23, the price is

A) more than $23 since it's earning an economic profit
B) $0.23
C) $2,300
D) $23
E) not able to be calculated from the data given

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