Assume a Perfectly Competitive Firm Sells Its Output for $150

question 89

Multiple Choice

Assume a perfectly competitive firm sells its output for $150 per unit.At its current 2,000 units of output,marginal cost is $180 and increasing,and average variable cost is $160.Assuming it wants to maximize its profits,it should:

• A) increase output.
• B) decrease output, but not shut down.
• C) maintain its current output rate.
• D) shut down.

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Definitions:

Control String

A string in programming used to format or control the output of variables, often seen in functions for printing or displaying data.

Function

A named section of a program designed to perform a specific task, which can take inputs, process them, and return an output.

Scanf()

A function in C programming language used to read formatted input from the console or standard input device.

Field Width Specifiers

Symbols or codes used in formatted output operations to define the minimum number of characters to be written in a field.