A competitive firm would benefit from charging a price below the market price because the firm would achieve (i) higher average revenue. (ii) higher profits. (iii) lower total costs. Group of answer choices (i) only (ii) and (iii) only (i), (ii), and (iii) None of the above is correct.
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A competitive firm would benefit from charging a price below the market price because the firm would achieve
(i) higher average revenue.
(ii) higher profits.
(iii) lower total costs.
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