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When a Monopoly Changes Price to Respond to a Change

Question 154

Multiple Choice

When a monopoly changes price to respond to a change in marginal cost, the _______ in _______ is _______ than the _______ .


A) change; price; less; the change in marginal cost
B) increase; price; greater; change in output
C) decrease; output; greater; change in output
D) change; price; equal to; change in marginal cost

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