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Reduce product price-increase the level of output

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Reference no: EM131036672

A monopolistically competitive firm is operating at a short-run level of output where price is $21, average total cost is $15, marginal cost is $13, and marginal revenue is $13. In the short run this firm should:

  • Reduce product price
  • Increase the level of output
  • Decrease the level of output
  • Make no change in the level of output

Reference no: EM131036672

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