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.

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.

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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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 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.

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