Consider the following statements when answering this question: I. If the cost of producing each unit of output falls $5, then the short-run market price falls $5.
II) If the cost of producing each unit of output falls $5, then the long-run market price falls $5.
A) I and II are true.
B) I is true, and II is false.
C) I is false, and II is true.
D) I and II are false.

Question

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The Answer of Consider the following statements when answering this question: I. If the cost of producing each unit of output falls $5, then the short-run market price falls $5.
II) If the cost of producing each unit of output falls $5, then the long-run market price falls $5.
A) I and II are true.
B) I is true, and II is false.
C) I is false, and II is true.
D) I and II are false.

Consider the Following Statements When Answering This Question: I