Multiple Choice
A gas station operates in a monopolistically competitive market and is in short-run equilibrium.Suppose that a fixed cost for this firm decreases.As a result,the firm's price will _____,the firm's output will _____,and the firm's economic profit will _____.
A) increase;increase;increase
B) increase;increase;decrease
C) stay the same;stay the same;increase
D) decrease;stay the same;increase
Correct Answer:
Verified
Correct Answer:
Verified
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