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If a Firm Has Not Maximized Its Profit, It Could

Question 42

Multiple Choice

If a firm has not maximized its profit, it could be the case that


A) marginal cost is less than average total cost
B) marginal cost is greater than average total cost
C) marginal cost, average total cost, and marginal revenue all intersect at the same quantity
D) marginal cost is higher than average variable cost
E) the market price is higher than marginal cost

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