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Answer to Question #67180 in Microeconomics for JP
Question #67180
At the current level of output (Q), should the firm change its level of production? Defend/Explain how you determined your response
Expert's answer
Firm should change level of production when it doesn’t maximize profit. Firm should be able to cover variable costs and at least part of fixed costs. The main aim of firm is to cover all expenses and receive profit.
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