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Suppose the Price of Chocolate Chips Increases

Question 136

Multiple Choice

Suppose the price of chocolate chips increases. The producers of chocolate chip cookies will now supply _____ at each price because _____.


A) more; some of their competitors will drop out of the market
B) less; the price of a main input has gone up
C) more; the price of a main input has gone up
D) more; more competitors will enter the market

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