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Economics

If a purely competitive firm is producing at an output where marginal revenue exceeds marginal cost, the firm will increase its profit by

1. reducing production to the point where variable costs are minimized.

2. reducing production to the point where unit costs are minimized.

3. reducing its output and simultaneously increasing its price.

4. increasing its output.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91234470

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