Assume a certain firm is producing Q = 1,000 units of output. At Q = 1,000, the

Question

Assume a certain firm is producing Q = 1,000 units of output. At Q = 1,000, the firm's marginal cost equals $15 and its average total cost equals $11. The firm sells its output for $12 per unit.
To maximize its profit, the firm should Answer increase its output. continue to produce 1,000 units. decrease its output but continue to produce. shut down. Assume a certain firm is producing Q = 1,000 units of output. At Q = 1,000, the firm's marginal cost equals $15 and its average total cost equals $11. The firm sells its output for $12 per unit.
To maximize its profit, the firm should Assume a certain firm is producing Q = 1,000 units of output. At Q = 1,000, the firm's marginal cost equals $15 and its average total cost equals $11. The firm sells its output for $12 per unit.
To maximize its profit, the firm should increase its output. continue to produce 1,000 units. decrease its output but continue to produce. shut down. increase its output. continue to produce 1,000 units. decrease its output but continue to produce. shut down.

Explanation / Answer

increase its output.

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