please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly If market demand increases, a perfectly competitivefirm will find:○ its profits decreasing.its profit-maximizing output level increasing.☐ its marginal cost falling.its average revenue curve shifting down.its cost curves shifting up.

Perfect competition is a market structure characterized by a specific set of features. Here are some…

Answered: If market demand increases, a perfectly…

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter8: Perefect Competition

Section: Chapter Questions

Problem 12SQ

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If market demand increases, a perfectly competitive firm will find: ○ its profits decreasing. its profit-maximizing output level increasing. ☐ its marginal cost falling. its average revenue curve shifting down. its cost curves shifting up.