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    Macroeconomics Study Set 48
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    Exam 12: Aggregate Demand and Aggregate Supply
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    When the Price Level Increases, Firms in Perfectly Competitive Markets
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When the Price Level Increases, Firms in Perfectly Competitive Markets

Question 305

Question 305

Multiple Choice

When the price level increases, firms in perfectly competitive markets will:


A) decrease output and increase the price.
B) decrease output.
C) increase output and decrease the price.
D) increase output.

Correct Answer:

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