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22-09-2022
Social Studies

Answered

A profit-maximizing firm in a competitive market is able to sell its product for $7. At its current level of output, the firm's average total cost is $10. The firm’s marginal cost curve crosses its marginal revenue curve at an output level of 9 units. The firm experiences a
a. profit of exactly $27.
b. loss of more than $27.
c. loss of exactly $27.
d. profit of more than $27.

Answer :

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