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LilyGal LilyGal
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Which of the following would be the most likely outcome if all perfectly competitive firms in a product market join together to form a monopoly?

• Both the rate of output and the quantity of labor input employed will decrease.

• Both the rate of output and the quantity of labor input employed will increase.

• The rate of output in the market will decrease but the quantity of labor input will increase.

• The rate of output in the market will increase but the quantity of labor input will decrease.
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Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
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brigettelearnbrigettelearn
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LilyGal Author
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5 years ago
Thanks
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