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Author Question: The entry of new firms into a perfectly competitive market will cause: A) both the equilibrium ... (Read 46 times)

craiczarry

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on: Jun 29, 2018
The entry of new firms into a perfectly competitive market will cause:
 
  A) both the equilibrium price and quantity to increase.
  B) both the equilibrium price and quantity to decrease.
  C) the equilibrium price to increase but the equilibrium quantity to decrease.
  D) the equilibrium price to decrease but the equilibrium quantity to increase.

Question 2

A relative price is the product of two money prices.
 
  Indicate whether the statement is true or false


anyusername12131

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

FALSE


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