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Exhibit 22-10 Refer to Exhibit 22-10

Question 167

Multiple Choice

Exhibit 22-10 Exhibit 22-10 Refer to Exhibit 22-10.  Is the firm depicted here a perfectly competitive firm? A) Yes, because marginal revenue is constant. B) Yes, because total revenue increases as output increases. C) No, because marginal cost is not constant. D) No, because marginal cost falls for some levels of output and rises for other levels of output. Refer to Exhibit 22-10.  Is the firm depicted here a perfectly competitive firm?


A) Yes, because marginal revenue is constant.
B) Yes, because total revenue increases as output increases.
C) No, because marginal cost is not constant.
D) No, because marginal cost falls for some levels of output and rises for other levels of output.

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