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NARRBEGIN 14-2 Graph 14-2

Question 86

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NARRBEGIN 14-2
Graph 14-2
NARRBEGIN 14-2 Graph 14-2 This graph depicts the cost structure for a firm in a competitive market. Use the graph to answer the following question(s) . -Refer to Graph 14-2. When price falls from P<sub>3</sub> to P<sub>1</sub>, the firm finds that: A) fixed cost is higher at a production level of Q<sub>1</sub> than it is at Q<sub>3</sub> B) it is unwilling to produce any output C) it should produce Q<sub>1</sub> units of output D) all of the above are true
This graph depicts the cost structure for a firm in a competitive market. Use the graph to answer the following question(s) .
-Refer to Graph 14-2. When price falls from P3 to P1, the firm finds that:


A) fixed cost is higher at a production level of Q1 than it is at Q3
B) it is unwilling to produce any output
C) it should produce Q1 units of output
D) all of the above are true

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