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Question
A perfectly competitive firm is selling 300 units of output at $4 each. At this output level, total fixed cost is $100 and total variable cost is $500. The firm
A) is maximizing its profit.
B) is earning a profit, but not necessarily the maximum profit.
C) is experiencing an economic loss.
D) should shut down.
Answer
This answer is hidden. It contains 1 characters.
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