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Author Question: Suppose a decrease in the supply of paper results in an increase in revenue. This indicates that ... (Read 71 times)

DyllonKazuo

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Suppose a decrease in the supply of paper results in an increase in revenue. This indicates that
 
  A) the demand for paper is elastic. B) the supply of paper is elastic.
  C) the supply of paper is inelastic. D) the demand for paper is inelastic.

Question 2

Refer to Figure 5-9. The private profit-maximizing output level is
 
  A) Q1. B) Q2. C) Q3. D) Q4.


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dpost18

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