Economics · Market Structures
If a perfectly competitive firm can increase its profits by increasing its output, then for that firm's product, the ____________.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Fixed cost is zero
- 2Average variable cost exceeds its average total cost
- 3Price exceeds its average total cost
- 4Price exceeds its marginal cost✓
Correct answer
Price exceeds its marginal cost
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