onsider a firm that operates in a perfectly competitive market. Currently the firm is producing 300 units of output and the price is $20. If marginal cost at 300 units is $22, the firm a. could increase profits by reducing output from 300 units. b. could increase profits by increasing output from 300 units. c. should decide to increase the price above $20. d. should shut down, since it must be losing money.
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Home » Business » onsider a firm that operates in a perfectly competitive market. Currently the firm is producing 300 units of output and the price is $20. If marginal cost at 300 units is $22, the firm a. could increase profits by reducing output from 300 units. b.