In a perfect competitive industry, the market price is R20. An individual firm produces output at which MC=R25. What should the firm do to maximise profits or to minimise losses in the short run? A. they should leave the output unchanged. B. they should increse production. C. they should decrease production. D. they should shut down.

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In a perfect competitive industry, the market price is R20. An individual firm produces output at which MC=R25. What should the firm do to maximise profits or to minimise losses in the short run?
A. they should leave the output unchanged.
B. they should increse production.
C. they should decrease production.
D. they should shut down.

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