-The table above gives the total revenue and total cost for a perfectly competitive firm producing chocolate chip cookies. If the firm is producing 1 pound of cookies, to maximize its profit it will

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In a perfectly competitive market, a firm maximizes profit by producing where marginal cost equals marginal revenue. If the firm is producing 1 pound and can increase profit by producing more, it should increase its output.

-The Table Above Gives the Total Revenue and Total Cost