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    A Technological Breakthrough That Reduces the Cost of Materials in a Perfectly
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A Technological Breakthrough That Reduces the Cost of Materials in a Perfectly

Question 122

Question 122

Multiple Choice

A technological breakthrough that reduces the cost of materials in a perfectly competitive industry would, in the long run,


A) lead to higher profits.
B) raise prices.
C) lower the output produced by each firm.
D) increase the number of producers.
E) decrease the number of producers.

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