Claude's Copper Clappers sells clappers for $65 each in a perfectly competitive market.At its present rate of output, Claude's marginal cost is $65, average variable cost is $45, and average total cost is $67.To maximize his profit or minimize his loss, Claude should

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In a perfectly competitive market, firms maximize profit where price equals marginal cost. Since the price ($65) equals the marginal cost ($65), Claude should maintain the current output level.

Claude's Copper Clappers Sells Clappers for $65 Each in a Perfectly