Perfect Competition
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Refer to the attachment for a perfectly competitive firm
1. at a market price of $23, ["profit per unit"] is maximized at an output of:
a) 13 units b) 25 units c) 31 units d) 39 units e) 40 units
2. at a market price of $23, ["total profits are maximized"] at an output of:
a) 40 b) 31 c) 25) d) 13 e) 39
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