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Graph a Shows the Market Demand and Supply in a Perfectly

Question 84

Multiple Choice

Graph A shows the market demand and supply in a perfectly competitive market.Graph B shows the cost curves of a representative profit-maximizing firm in that industry.
Graph A shows the market demand and supply in a perfectly competitive market.Graph B shows the cost curves of a representative profit-maximizing firm in that industry.    -Refer to the above graph to answer this question.Suppose that the industry demand were to increase by 3,000 units.What will be the new equilibrium price and quantity in the industry? A) $400 and 8,000. B) $500 and 8,000. C) $600 and 6,000. D) $700 and 6,500. E) $800 and 7,000.
-Refer to the above graph to answer this question.Suppose that the industry demand were to increase by 3,000 units.What will be the new equilibrium price and quantity in the industry?


A) $400 and 8,000.
B) $500 and 8,000.
C) $600 and 6,000.
D) $700 and 6,500.
E) $800 and 7,000.

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