If a Perfectly Competitive Firm Is Producing a Rate of Output

question 115

Multiple Choice

If a perfectly competitive firm is producing a rate of output at which MC exceeds price,then the firm

• A)Must have an economic loss.
• B)Can increase its profit by increasing output.
• C)Can increase its profit by decreasing output.

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Definitions:

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Essentialism is the belief that entities have a set of attributes essential to their identity and function, often ignoring the effects of context or culture.

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A pattern of coercive control and power by one partner over the other in an intimate relationship, often leading to physical, emotional, or psychological abuse.

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describes a sexual orientation characterized by a romantic or sexual attraction to individuals of the opposite sex.