A firm facing an exogenously given market price, P0, will find its short run profit maximizing output is always where:
a) Marginal revenue exceeds average total cost
b) Marginal cost is equal to marginal revenue at a level greater than average variable cost
c) Marginal cost is minimized
d) Marginal cost is equal to marginal revenue at a level greater than average variable cost AND average total cost is just tangent to marginal revenue
e) Average total cost is just tangent to marginal revenue



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