Business, 14.12.2019 02:31 YODIIZ6590

If a firm is producing an output level for which marginal revenue is less than marginal cost;

a. the firm can increase profits by producing and selling more output
b. the firm can increase profits by producing and selling less output
c. the firm is maximizing profits
d. whether or not the firm is maximizing profits cannot be determined

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If a firm is producing an output level for which marginal revenue is less than marginal cost;

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