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Assume that a perfectly competitive firm is currenly producing 5000 units of output and is earning $10000 in total revenue The marginal cost

Assume that a perfectly competitive firm is currenly
producing 5,000 units of output and is earning $10,000 in total revenue The
marginal cost of the 5,000th unit of output is $3 Is this firm producing the
profit maximizing level of output? How do you know?

Mar 17 2020 View more View Less

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