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Home Q & A Board Other Fields Homework Help Business Economics
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Satsume Satsume
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6 years ago
Use the following statements to answer this question:
I.   Under perfect competition, an upward shift in the marginal cost curve (perhaps due to a higher price for a variable input) also shifts the average variable cost curve upward.
II.   Under perfect competition., an upward shift in the marginal cost curve (perhaps due to a higher price for a variable input) reduces firm output but may increase firm profits.
A) I and II are true.
B) I is true and II is false.
C) II is true and I is false.
D) I and II are false.
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Microeconomics

Microeconomics


Edition: 8th
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6 years ago
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