Suppose a perfectly competitive firm wants to increase its level of output profitably. To do this, the firm needs to
a. find a way to lower its marginal cost.
b. should raise its price to sell any additional output.
c. should lower its price to sell any additional output.
d. will not be able to sell the additional output at any price because of the many other competitive firms that exist.
Ans: a. find a way to lower its marginal cost.
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What will be an ideal response?
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What will be an ideal response?
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