-In the Above Figure, What Happens to the Firm's Optimal

question 388

Multiple Choice

-In the above figure, what happens to the firm's optimal level of output if the price it receives for its product decreases from P4 to P3?

• A) Output stays the same.
• B) Output decreases.
• C) Output increases.
• D) There is not enough information provided to know what happens to output.

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