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MC
MR = MC at a point at which the __ curve is rising
Output Rule
If a firm is producing any output, it should produce at the level at which MR = MC.
less than
The firm is losing money when its price is __ ATC at the profit-maximizing output q*
shuts down
Fixed costs do not change with the level of output, but they can be eliminated if the firm __.
in the short run
The firm might operate at a loss ___ because it expects to become profitable again in the future, when the price of its product increases or the cost of production falls.
