The following graph shows the demand and cost curves of an imperfectly competitive firm.MC and ATC represent the marginal cost curve and the average cost curve respectively. Figure 8.1 
- In Table 8.1,in order to maximize profits,the firm should increase output until the ____ unit of output.
Definitions:
Principle Amount
The original sum of money borrowed in a loan or put into an investment.
Time
A continuous, measurable quantity in which events occur in a sequence from the past through the present to the future.
Simple Interest
Interest computed on the original sum of a loan or deposit, not including the effects of compounding throughout the duration.
Simplification
The process of reducing a mathematical expression or equation to its simplest form.
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