Business, 13.07.2019 03:20 jess7kids98

Afirm purchases an input (factor of production) in a competitive factor market at a price of $27 per unit. at the current level of use, the factor's marginal product is 3. the firm sells its output in a competitive market at a price of $20 per unit. from this information, assuming the firm wants to maximize its profit, we can conclude that the firma. should decrease production of its product. b. should decrease the price of its product. c. should increase production of its product. d. is currently at the profit-maximizing point.

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Afirm purchases an input (factor of production) in a competitive factor market at a price of $27 per...

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