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Table 13-9 Suppose That a Firm in a Competitive Market Faces the Faces

Question 132

Multiple Choice

Table 13-9
Suppose that a firm in a competitive market faces the following revenues and costs:
Table 13-9 Suppose that a firm in a competitive market faces the following revenues and costs: -Refer to Table 13-9.If the firm's marginal cost is $5,it should A) reduce fixed costs by lowering production. B) increase production to maximize profit. C) decrease production to maximize profit. D) maintain its current level of production to maximize profit.
-Refer to Table 13-9.If the firm's marginal cost is $5,it should


A) reduce fixed costs by lowering production.
B) increase production to maximize profit.
C) decrease production to maximize profit.
D) maintain its current level of production to maximize profit.

Correct Answer:

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