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Suppose the Equilibrium Price in a Perfectly Competitive Industry Is

Question 175

Multiple Choice

Suppose the equilibrium price in a perfectly competitive industry is $15 and a firm in the industry charges $21.Which of the following will happen?


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

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