Figure 13-4
Suppose a firm operating in a competitive market has the following cost curves: 
-Refer to Figure 13-4.When price rises from P3 to P4,the firm finds that
A) fixed costs decrease as output increases from Q3 to Q4.
B) it can earn a positive profit by increasing production to Q4.
C) profit is still maximized at a production level of Q3.
D) average revenue exceeds marginal revenue at a production level of Q4.
Correct Answer:
Verified
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