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Adam's Apples, a Small Firm Supplying Apples in a Perfectly

Question 131

Multiple Choice

Adam's Apples, a small firm supplying apples in a perfectly competitive market, decides to cut its production in half this year.As a result, the


A) market price will rise
B) market price will fall
C) market quantity will rise
D) market price will not be affected
E) total expenditures on apples will rise

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