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From course:

Microeconomic MCQ 1

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Question:

11. Suppose all firms in a perfectly competitive industry are experiencing economic profits. One can hypothesize that A) market price will fall. D) the number of foms will not change. B) market supply will decrease. E) market demand will decrease. C) market demand will increase.

Author: Gonza R



Answer:

A) market price will fall.


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Gonza R
Gonza R