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Assume that a monopolistically competitive firm faces the following situation: P=$16 output = 9000 units, MC = $11, ATC = $10, AVC = $7 and MR = $14. Which statement is correct regarding profit maximization?
A. The firm would earn more profits by increasing output B. The firm would earn higher profits by increasing output C. The firm is minimizing its losses D. The firm is maximizing profits
Sagot :
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