If P_Y Increases and Costs of Production Remain Unchanged, the Profit-Maximizing

question 60

Multiple Choice

If P_Y increases and costs of production remain unchanged, the profit-maximizing firm will:

• A) decrease output because it costs more to produce each unit of output
• B) will increase output until the new MR is equal to the MC
• C) will use the same level of inputs
• D) will produce the same amount of output since the firm is a price taker and can not affect market prices

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