Social Studies, 05.08.2019 22:20 alisonlebron15
Assume a monopolistically competitive firm encounters a decrease in average variable cost at all output levels. we would expect:
a. the price to fall and output to rise .
b. the price to fall and output to fall.
c. the price to rise and output to rise.
d. the price to rise and output to fall
Answers: 2
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Assume a monopolistically competitive firm encounters a decrease in average variable cost at all out...
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