Business, 17.03.2020 00:00 kkkikibdh

In a perfectly competitive industry, the market price of the product is $12. A firm produces at a level of output where average total cost is $16, marginal cost is $16, and average variable cost is $8. To maximize profit, the firm should:.A. decrease its selling priceB. increase its selling priceC. decrease output but keep producingD. shut downE. leave both price and output unchanged

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