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QUESTION 11 Refer to the information provided in Figure 10.2 below to answer the question(s) that follow. MC, MC Dollars Unit

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A profit maximizing firm produces at the point where P = MC. As the MC curve shifts leftward from MC1 to MC0, the firm's profit maximizing output also decreases. As output decreases, the firm's demand for labor will also decrease.

Answer: option 2

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