If a competitive firm is currently producing a level of output at which profit is not maximized, then which of these conditions are NOT likely to be occurring O total cost exceeds total revenue Actually, all of these conditions could cause profit to NOT be maximized. marginal revenue exceeds marginal cost marginal cost exceeds marginal revenue

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A:

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A:

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A:

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A: Answer: Correct option: (b) 35 Explanation: A firm maximizes its profit at that level of output…