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Quantity of pumpkin 0 1 2 3 O a. 1 b. 0 Given the marginal cost of each pumpkin, what will be the (short-run) profit-maximizing output if the price is $14? c. 3 Marginal cost Od. 2 0 12 14 16

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter12: Firms In Perfectly Competitive Markets

Section: Chapter Questions

Problem 6P

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Question

Quantity of
pumpkin
0
1
2
3
O
Given the marginal cost of each pumpkin, what will be the (short-run) profit-maximizing output if the
price is $14?
a. 1
b. 0
C. 3
Marginal cost
d. 2
0
12
14
16

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