Suppose your firm is operating in a perfectly competitive market, and that the minimum average variable cost of producing your good is $13. If the price of the good is $15, your firm should
A) supply the amount of the good where the marginal cost of production is equal to $15.
B) not produce anything since the price is above the minimum of average variable cost.
C) not consider price when determining the amount to sell.
D) not do any of the above.
Correct Answer:
Verified
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