Assume a perfectly competitive firm sells its output for 150 per unit. It currently produces 6,000 units of output, at which output level it minimizes its average variable cost at 152 per unit. Assuming it wants to maximize its profits, it should:
a. increase output.
b. decrease output, but not shut down.
c. maintain its current output rate.
d. shut down.
Question 2
The income tax structure in the United States is regressive in nature.
a. True
b. False
Indicate whether the statement is true or false
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