Firm in this industry decides to increase its price
Course:- Business Economics
Reference No.:- EM131082041

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In a perfectly competitive industry, the price of good A is $2. If a firm in this industry decides to increase its price to $2.50, it will: a. realize an increase in profit of $0.50 per unit output. b. lose some of its customers in the market. c. be unable to sell any quantity of good A that is produced. d. experience a decrease in profit of $0.50 per unit output. e. be able to increase the quantity sold of good A.

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