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If a purely competitive firm decided to withhold its entire output from the market,

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If a purely competitive firm decided to withhold its entire output from the market,

If a purely competitive firm decided to withhold its entire output from the market,
A) the price of the firm's product would rise significantly.
B) the price of the firm's product would fall significantly.
C) the price of the firm's product would be essentially unchanged.
D) other firms could be counted on to follow the same course of action and drive up price.
E) the price of the firm's product would fall, but not significantly.

Textbook

Introduction to Economic Reasoning

Edition: 8^th

Author: Rohlf

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