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Title: If a competitive firm is currently producing a level of output at which profit is not maximized, then it must be true th

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Q:

If a competitive firm is currently producing a level of output at which profit is not maximized, then it must be true that

           a.   marginal revenue exceeds marginal cost.

           b.   marginal cost exceeds marginal revenue.

           c.    total cost exceeds total revenue.

           d.   None of the above are correct.


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Title: If a competitive firm is currently producing a level of output at which profit is not maximized, then it must be true th

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    • Posted Date: Apr 28, 2012 at 9:25:26 PM

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A:
...sp;        a.   marginal revenue exceeds marginal cost.   &...
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