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Business, 31.05.2020 00:57 charlzperru8234
Assume price exceeds average variable cost over the relevant range of demand. If a monopolistically competitive firm is producing at an output where marginal revenue is $23 and marginal cost is $19, then to maximize profits the firm should A) shut down. B) continue to produce the same quantity. C) decrease output. D) increase output.
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Assume price exceeds average variable cost over the relevant range of demand. If a monopolistically...
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