Suppose a perfectly competitive firm's produces 80 units at a minimum average variable cost of $2.5. If the price is $3 and the firm's marginal cost is $3, the firm should? Select one: O a continue to produce 80 O b. continue to operate, but produce more than 80 O c. shut down O d. continue to produce, but produce less than 80

Suppose a perfectly competitive firm's produces 80 units at a minimum average variable cost of $2.5. If the price is $3 and the firm's marginal cost is $3, the firm should? Select one: O a continue to produce 80 O b. continue to operate, but produce more than 80 O c. shut down O d. continue to produce, but produce less than 80

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter8: Perefect Competition

Section: Chapter Questions

Problem 10SQP

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