Multiple Choice
The figure given below shows the revenue and cost curves of a perfectly competitive firm.Figure 10.1
-Suppose that in a perfectly competitive market, the market supply of a good increases. As a result, the individual firm's:
A) supply curve would shift outward and the firm would increase output.
B) supply curve would shift inward and the firm would decrease output.
C) average-total-cost curve would shift upward and the firm would increase output.
D) marginal-revenue curve would shift upward and the firm would increase output.
E) marginal-revenue curve would shift downward and the firm would decrease output.
Correct Answer:

Verified
Correct Answer:
Verified
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