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Title: A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $

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Q:

A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $10, and its average total cost is $8. It follows that the firm’s

           a.   average total cost curve intersects the marginal cost curve at an output level of less than100 units.

           b.   average variable cost curve intersects the marginal cost curve at an output level of less than 100 units.

           c.    profit is $200.

           d.   All of the above are correct.


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Title: A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $

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    • Posted Date: Apr 28, 2012 at 9:24:40 PM

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A:
...sp;        a.   average total cost curve intersects the marginal cost ...
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