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(Figure: Price and Quantity IV) Which of the Following Statements

question 83

Multiple Choice

(Figure: Price and Quantity IV) Which of the following statements is (are) TRUE? (Figure: Price and Quantity IV)  Which of the following statements is (are)  TRUE?   I. The firm earns $120 of profit at 24 units of output. II)  At prices above $5, the firm earns positive profit. III)  At a price of $4, the firm would produce more than 24 units of output to offset the lower price. A)  I B)  II and III C)  II D)  I and III I. The firm earns $120 of profit at 24 units of output.
II) At prices above $5, the firm earns positive profit.
III) At a price of $4, the firm would produce more than 24 units of output to offset the lower price.

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