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Author Question: Suppose that a perfectly competitive firm's marginal revenue equals $12 when it sells 10 units of ... (Read 66 times)

anshika

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on: May 24, 2019
Suppose that a perfectly competitive firm's marginal revenue equals $12 when it sells 10 units of output. If the marginal cost of producing the 10th unit is $14, to maximize its profit the firm should
◦ do nothing because it is already maximizing its profit.
◦ decrease its production.
◦ increase its production.
◦ shut down.
◦ increase the price it charges for its product.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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Marked as best answer by anshika on May 24, 2019

kjohnson

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Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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anshika

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Reply 2 on: May 24, 2019
Great answer, keep it coming :)

scikid

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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