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apadong apadong
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7 years ago
Corn is produced in a perfectly competitive market. The demand for ethanol increases. This will cause the individual corn farmerʹs marginal revenue to ________ and their profit maximizing level of output to ________.
A) increase; increase
B) increase; decrease
C) decrease; increase
D) decrease; decrease
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DeToXiFYDeToXiFY
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7 years ago
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apadong Author
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#2
7 years ago
Update: Correct!
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