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Author Question: Technology reduces the average cost of production, so in the long run i.perfectly competitive firms ... (Read 45 times)

jake

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on: May 24, 2019
Technology reduces the average cost of production, so in the long run
i.perfectly competitive firms produce at a lower average cost.
ii.the market price of the good falls.
iii.firms with older plants either exit the market or adopt the new technology.

◦ i only
◦ i and ii
◦ iii only
◦ i and iii
◦ i, ii, and iii
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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Marked as best answer by jake on May 24, 2019

micaelaswann

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Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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jake

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Reply 2 on: May 24, 2019
Excellent

Liddy

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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