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A perfectly competitive market is initially in long-run competitive equilibrium. Then, market demand ...

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A perfectly competitive market is initially in long-run competitive equilibrium. Then, market demand ...

A perfectly competitive market is initially in long-run competitive equilibrium. Then, market demand increases. As a result,

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the marginal revenue curve for each firm shifts upward.

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the demand curve for each firm shifts upward.

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marginal cost for each firm falls.

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average total cost for each firm rises.

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a and b

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Economics

Edition: 12^th

Author: Arnold

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sweetapple718 Author

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Correct

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