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A profit-maximising firm considers its marginal revenue (MR) and marginal cost (...

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A

profit-maximising firm considers its marginal revenue (MR) and marginal cost (MC)

functions. Which of the statements below is correct?

If

MR > MC, increase output to raise profits.

100%

If

MR < MC, increase output to raise profits.

0%

If

MC = MR, raise output to increase profits.

0%

Its profit-maximising condition depends on whether it is a monopolist or a competitive firm.

0%

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