Your friend Hector owns a coffee shop in town, which is a competitive market in your community. Hector knows you're taking an economics course, so Hector asks you what quantity of coffee to produce in order to maximize profit. Which is the best response to Hector's question? Choose one: A. Produce where the marginal revenue is equal to the market price for each coffee sold. B. Produce the quantity where the marginal cost of producing the last unit equals the marginal revenue of producing that unit. C. Produce the maximum quantity the size of the coffee shop will allow. D. Produce the quantity that minimizes the average total cost of production.
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Your friend Hector owns a coffee shop in town, which is a competitive market in your community. Hect...
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