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Business, 04.04.2020 06:20 therealdest

Assume that a profit-maximizing firm is perfectly competitive in both the output and the factor markets and is at its long-run equilibrium. The firm's output is 100 units, its total revenue is $600.00 and the fixed cost of production is $50.00. Based on this information, which of the following is true for the firm. Its marginal cost is $6.00 and its average variable cost is $5.50. A decrease in wage and a decrease in hours. Average Fixed Cost

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Assume that a profit-maximizing firm is perfectly competitive in both the output and the factor mark...
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