Use the following to answer question:
-(Figure: Marginal Decision Rule) Use Figure: The Marginal Decision Rule.If P₁ is the market price and if this firm is maximizing profit,it should produce:

Question

Use the following to answer question: -(Figure: Marginal Decision Rule)Use Figure: The Marginal Decision Rule.If P₁ is the market price and if this firm is maximizing profit,it should produce:

Quizplus · Accepted Answer

For profit maximization, a firm should produce at the quantity where marginal revenue (MR) equals marginal cost (MC), which is indicated by the given market price and quantity in the question.

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