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Use the Following to Answer Question(s)

Question 101

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Use the following to answer question(s) :
Exhibit: Profit Maximizing
Use the following to answer question(s) : Exhibit: Profit Maximizing -(Exhibit: Profit Maximizing) The exhibit shows cost curves for a firm operating in a perfectly competitive market. If the market price is P<sub>4</sub>, the firm will produce quantity _______ and _______ in the short run. A) q<sub>1</sub>; break even B) q<sub>3</sub>; make a profit C) q<sub>4</sub>; break even D) None of the above is true.
-(Exhibit: Profit Maximizing) The exhibit shows cost curves for a firm operating in a perfectly competitive market. If the market price is P4, the firm will produce quantity _______ and _______ in the short run.


A) q1; break even
B) q3; make a profit
C) q4; break even
D) None of the above is true.

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