Business, 09.08.2019 18:10, Cecely2783

Suppose a perfectly competitive firm can produce 20,000 bushels of corn a year at an output at which marginal cost equals marginal revenue. the market price of corn per bushel is 2.00. the firms total costs per year are 50,000 and fixed costs per year are 25,000. in the short-run, this firm shoulda. produce 40,000 bushels to try to increase economic profitb. produce 20,000 bushels of corn because, although they are losing money. they are losing less than if they shut downc. continue producing until the price of corn increasesd. shut down

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Suppose a perfectly competitive firm can produce 20,000 bushels of corn a year at an output at which...