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Author Question: Refer to Figure 12-1. If the firm is charging a price of 12 per unit A) it is not selling any ... (Read 104 times)

asd123

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on: Jun 29, 2018
Refer to Figure 12-1. If the firm is charging a price of 12 per unit
 
  A) it is not selling any output. B) it is selling 700 units.
  C) it is making a profit. D) it breaks even.

Question 2

Refer to Table 13-2. What is likely to happen to the product's price in the long run?
 
  A) It will fall.
  B) It will remain constant.
  C) It will increase.
  D) This cannot be determined without information on its long-run demand curve.


sarah_brady415

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

A

Answer to Question 2

A


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