Multiple Choice
Suppose the firm's total revenue is $4,000 and its total cost is $1,200. We know, then ,that the firm
A) should produce more to maximize profit
B) should lower its price to maximize profit
C) should lower average total cost to maximize profit
D) should stay where it is because it's maximizing profit
E) can't determine what it should do with that incomplete information
Correct Answer:
Verified
Correct Answer:
Verified
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