If a firm is producing at a quantity in which the marginal cost exceeds marginal revenue, the firm must decrease output to increase profit must increase output to increase profit is maximizing profit must shut-down to increase profit

If a firm is producing at a quantity in which the marginal cost exceeds marginal revenue, the firm must decrease output to increase profit must increase output to increase profit is maximizing profit must shut-down to increase profit

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter8: Perfect Competition

Section: Chapter Questions

Problem 4.7P

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