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Microeconomics 9th Edition by Stephen Slavin
Edition 9ISBN: 9780077426767Microeconomics 9th Edition by Stephen Slavin
Edition 9ISBN: 9780077426767 Exercise 79
If a firm is producing a level of output at which that output's marginal cost is less than the price of the good, ____________.
A) it is producing too much to maximize its profits
B) it is probably maximizing its profits
C) higher profits could be obtained with increased production
D) none of the above
A) it is producing too much to maximize its profits
B) it is probably maximizing its profits
C) higher profits could be obtained with increased production
D) none of the above
Explanation
Verified
Verified
If the price is less than the marginal c...
Microeconomics 9th Edition by Stephen Slavin
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