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General Snacks Is a Typical Firm in a Market Characterized

Question 229

Multiple Choice

General Snacks is a typical firm in a market characterized by monopolistic competition.Initially,the market is in long-run equilibrium,and then there is an increase in the market demand for snacks.In the short run the price of snacks will _____ and the market output of snacks will _____.


A) fall;fall
B) remain unchanged;remain unchanged
C) rise;fall.
D) rise;rise

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