If, at the Equilibrium Level of Output, a Typical Competitive

question 135

Multiple Choice

If, at the equilibrium level of output, a typical competitive firm's price is greater than its ATC, the firm

• A)should raise the price.
• B)should lower the price.
• C)should decrease output.
• D)finds that new firms are attracted to this industry.
• E)should increase output.

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