Adam's Apples,a small firm supplying apples in a perfectly competitive market,decides to cut its production to half this year.Which of the following is likely to occur in this case?
A) The market price of apples will increase.
B) The market price of apples will decrease.
C) The market demand for apples will increase.
D) The market price of apples will not be affected.
E) The market supply curve of apples will shift rightward.
Correct Answer:
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