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Business, 22.06.2019 13:20 ooEVAoo

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is ​$1.64 per​ kilogram, and his marginal cost of production is ​$1.44 per​ kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short​ run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.

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