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Author Question: Refer to Figure 12-17. Which of the following statements is true? A) The current market price is ... (Read 22 times)

a0266361136

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on: Jun 29, 2018
Refer to Figure 12-17. Which of the following statements is true?
 
  A) The current market price is 3 but the firm will be able to increase the price in the future.
  B) The current market price is 3 but the price will fall in the long run as new firms enter the market.
  C) The current market price is 3 but the price will increase in the future as the market demand increases.
  D) The current market price is 3 but the price will fall in the long run as a result of a decrease in demand.

Question 2

Knowledge capital is
 
  A) rival. B) nonrival. C) nonexcludable. D) both B and C


leannegxo

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

B

Answer to Question 2

D


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