Business, 25.06.2019 04:30 Sevara100

You are hired as a consultant to a monopolistically competitive firm. the firm reports the following information about its price, marginal cost, and average total cost: p=mc, p> atc which of the following statements are true about the firm? a. the firm can increase its profit by reducing its output. b. the firm is in long-run equilibrium. c. the firm is possibly maximizing profit.

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