Figure 9-13 -Refer to Figure 9-13.When Price Rises from P₂ to P₃,the

question 87

Multiple Choice

Figure 9-13

-Refer to Figure 9-13.When price rises from P₂ to P₃,the firm finds that

• A)marginal cost exceeds marginal revenue at a production level of Q₂.
• B)if it produces at output level Q₃ it will earn a positive profit.
• C)expanding output to Q₄ would leave the firm with losses.
• D)it could increase profits by lowering output from Q₃ to Q₂.

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