If the firm is producing at an output level where marginal revenue exceeds marginal cost, then the firm should in order to maximize profit. * O increase price O increase output produced O produce less output O maintain production at the current level
If the firm is producing at an output level where marginal revenue exceeds marginal cost, then the firm should in order to maximize profit. * O increase price O increase output produced O produce less output O maintain production at the current level
Chapter11: The Firm: Production And Costs
Section: Chapter Questions
Problem 21P
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![If the firm is producing at an output level where marginal revenue
exceeds marginal cost, then the firm should
in order to
maximize profit. *
O increase price
O increase output produced
O produce less output
O maintain production at the current level](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc235db5d-f94c-4707-9975-942470511bf3%2F9421a040-6e94-4dad-b807-12b3443d13cd%2Fadc7iuj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:If the firm is producing at an output level where marginal revenue
exceeds marginal cost, then the firm should
in order to
maximize profit. *
O increase price
O increase output produced
O produce less output
O maintain production at the current level
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