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Suppose the Equilibrium Price in a Perfectly Competitive Industry Is

Question 233

Multiple Choice

Suppose the equilibrium price in a perfectly competitive industry is $10 and a firm in the industry charges $12.Which of the following will happen?


A) The firm will sell more output than its competitors.
B) The firm's revenue will increase.
C) The firm will not sell any output.
D) The firm's profits will increase.

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