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Use the Figure Below to Answer the Following Question

Question 52

Multiple Choice

Use the figure below to answer the following question.
Use the figure below to answer the following question. Figure 12.3.5 -Refer to Figure 12.3.5, which shows the cost curves and the marginal revenue curve for a perfectly competitive firm. To maximize its profit, the firm produces ________ units of output and the price is ________ a unit. A) 30; $40 B) 30; $30 C) 20; $40 D) 20; $30 E) 30; $32.50
Figure 12.3.5
-Refer to Figure 12.3.5, which shows the cost curves and the marginal revenue curve for a perfectly competitive firm. To maximize its profit, the firm produces ________ units of output and the price is ________ a unit.


A) 30; $40
B) 30; $30
C) 20; $40
D) 20; $30
E) 30; $32.50

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