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This Graph Represents the Cost and Revenue Curves of a Firm

Question 114

Multiple Choice

This graph represents the cost and revenue curves of a firm in a perfectly competitive market. This graph represents the cost and revenue curves of a firm in a perfectly competitive market. According to the graph shown,if a firm is producing at Q3: A) profits are being maximized. B) average total costs exceed the market price. C) the firm should expand production. D) All of these are true.
According to the graph shown,if a firm is producing at Q3:


A) profits are being maximized.
B) average total costs exceed the market price.
C) the firm should expand production.
D) All of these are true.

Correct Answer:

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