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It's Logical, It's a Rule of Thumb, It's an Economic

Question 54

Multiple Choice

It's logical, it's a rule of thumb, it's an economic guideline: As long as MR < MC, and the firm responds by increasing the quantity it produces,

A) profit will equal zero
B) profit will increase
C) profit will decrease
D) profit will remain unchanged
E) the firm will minimize loss

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