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anyanavicka [17]
4 years ago
7

A competitive firm has been selling its output for $10 per unit and has been maximizing its profit. Then, the price rises to $14

, and the firm makes whatever adjustments are necessary to maximize its profit at the now-higher price. Once the firm has adjusted, its:___________.
1. marginal revenue is lower than it was previously.

2. marginal cost is lower than it was previously.

3. quantity of output is higher than it was previously

4. all of the above are correct.
Business
1 answer:
LenaWriter [7]4 years ago
3 0

Answer:

The answer is 3. Quantity of output is higher that it was previously

Explanation:

A perfectly competitive firm acts as a price taker, so its calculation of total revenue is made by taking the given market price and multiplying it by the quantity of output that the firms chooses.

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Answer:

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Explanation:

a. U.S. manufacturers can possibly compete if

A worker or labor is said to be more productive if it produces or able to produce larger amounts of goods than the other workers or labors.

If the U.S. workers are more productive than the workers in Mexico, the labor cost per unit of goods produced in the US will be lower than the labor cost per unit of goods in Mexico.

Therefore, the correct option is that U.S. manufacturers can possibly compete if U.S. workers are more productive.

b. All manufacturing is not done in Mexico and other low-wage countries because

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I believe the answer is

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