Question: submit the answer and then watch the video feedback. Suppose the price of a cookie is $1.50 and cookies are produced in a competitive market.

submit the answer and then watch the video feedback. Suppose the price of a cookie is $1.50 and cookies are produced in a competitive market. When Cathy's Cookies produces 200 cookies, the average fixed cost is $2.00, the average variable cost is $1.00 and the marginal cost is $1.50. To maximize profit, Cathy should a. continue producing 200 cookies in the short run. b. produce more than 200 cookies in the short run. c. produce fewer than 200 cookies but continue producing in the short run. d. shut down in the short run

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