29. A perfectly competitive firm facing a price of $50 decides to produce 500 widgets. Its marginal cost of producing the last widget is $50. If the firm’s goal is to maximize profit, it should: Shut down Continue producing 500 widgets Produce more widgets Produce fewer widgets

29. A perfectly competitive firm facing a price of $50 decides to produce 500 widgets. Its marginal cost of producing the last widget is $50. If the firm’s goal is to maximize profit, it should:
Shut down
Continue producing 500 widgets
Produce more widgets
Produce fewer widgets

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