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In Markets Other Than Those That Are Purely Competitive, the Value

Question 22

Multiple Choice

In markets other than those that are purely competitive, the value of additional production by labor:


A) cannot be determined.
B) increases since more of the product can be sold at a lower price.
C) is unaffected by any change in the price at which the product is sold.
D) falls because of the decline in price necessary to sell the additional product.

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