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Use the Following Diagram to Answer the Following Questions

Question 82

Multiple Choice

Use the following diagram to answer the following questions.
Use the following diagram to answer the following questions. -Refer to Diagram 5-1. If a competitive firm were currently producing output at Q₃, we know that: A) profits are being maximized. B) increasing output would increase profits. C) decreasing output would increase profits. D) there should be no change in output.
-Refer to Diagram 5-1. If a competitive firm were currently producing output at Q₃, we know that:


A) profits are being maximized.
B) increasing output would increase profits.
C) decreasing output would increase profits.
D) there should be no change in output.

Correct Answer:

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