In a competitive industry the market-determined price is 12
In a competitive industry the market-determined price is $12. A firm is currently producing 50 units of output; marginal cost is $15, average total cost is $10 and average variable cost is $7. In order to maximize profit, the firm should:
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in a competitive industry the market-determined price is 12 a firm is currently producing 50 units of output marginal
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