Figure 12-1 -Refer to Figure 12-1. If the Firm Is Producing 700

question 274

Multiple Choice

Figure 12-1
-Refer to Figure 12-1. If the firm is producing 700 units

• A) it is making a profit.
• B) it is making a loss.
• C) it should cut back its output to maximize profit.
• D) it should increase its output to maximize profit.

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