suppose that at the current level of output, a firm in perfectly competitive market is producing at a level such that P>MC the firm : could increase profit by decreasing output none of the answers provided is correct could increase short run profit by increasing output cannot increase profit without raising price is currently maximising profit as price exceeds MC
suppose that at the current level of output, a firm in perfectly competitive market is producing at a level such that P>MC the firm : could increase profit by decreasing output none of the answers provided is correct could increase short run profit by increasing output cannot increase profit without raising price is currently maximising profit as price exceeds MC
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter8: Perefect Competition
Section: Chapter Questions
Problem 12SQP
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suppose that at the current level of output, a firm in
could increase profit by decreasing output
none of the answers provided is correct
could increase short run profit by increasing output
cannot increase profit without raising price
is currently maximising profit as price exceeds MC
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