At Its Present Rate of Output, 200 Units, a Perfectly

question 204

Multiple Choice

At its present rate of output, 200 units, a perfectly competitive firm has total cost of $10, 000, marginal cost of $38, and fixed cost of $2, 000, and it charges the market price of $38 per unit.To maximize profit or minimize loss, this firm should

• A)increase output
• B)reduce output but not to zero
• C)maintain the present rate of output
• D)shut down
• E)raise the price

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