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Use the Following to Answer Question(s)

Question 70

Multiple Choice

Use the following to answer question(s) :
Exhibit: Marginal Decision Rule
Use the following to answer question(s) : Exhibit: Marginal Decision Rule -(Exhibit: Marginal Decision Rule) If P<sub>1</sub> is the market price, and if this firm has decided to produce any output, it should produce: A) where MR > MC. B) quantity q<sub>2</sub>. C) quantity q<sub>1</sub> where MR > MC. D) a quantity greater than q<sub>1</sub> but less than q<sub>2</sub>.
-(Exhibit: Marginal Decision Rule) If P1 is the market price, and if this firm has decided to produce any output, it should produce:


A) where MR > MC.
B) quantity q2.
C) quantity q1 where MR > MC.
D) a quantity greater than q1 but less than q2.

Correct Answer:

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