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If a Firm in a Competitive Market Reduces Its Output

Question 39

Multiple Choice
If a firm in a competitive market reduces its output by 30 percent,what is the price of its output likely to do

If a firm in a competitive market reduces its output by 30 percent,what is the price of its output likely to do


A) decrease by more than 30 percent
B) decrease by less than 30 percent
C) remain unchanged
D) increase

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