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unicorngirl13 unicorngirl13
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4 years ago

The pizza delivery industry is monopolistically competitive. Little Joe's Pizzeria raises its prices by 10%, but all the other pizzerias in town keep their prices the same. Which of the following is most likely to occur?



▸ Little Joe's Pizzeria will not be able to sell any pizzas, because it was the only firm to raise its price.

▸ Little Joe's Pizzeria will lose some of its customers.

▸ Little Joe's Pizzeria's profits will increase.

▸ The number of customers served by Little Joe's Pizzeria will increase.
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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johnsykejohnsyke
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4 years ago
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unicorngirl13 Author
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4 years ago
Thank you for answering so quickly
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