Business, 13.08.2021 02:20 kyliefetters11

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 is 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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You are hired as a consultant to a monopolistically competitive firm. The firm reports the following...