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(Solution Library) Suppose this firm is operating in a perfectly competitive market as a price taker. If the market price is $90.00, in the long run, this firm should?

Question: Suppose this firm is operating in a perfectly competitive market as a price taker. If the market price is $90.00, in the long run, this firm should?

  1. _____ produce 8 units of output.
  2. _____ produce 9 units of output.
  3. _____ produce 7 units of output.
  4. _____ produce 0 units of output (i.e. shut down).
  5. _____ insufficient information to answer this question.

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Deliverable: Word Document


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