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Suppose the equilibrium price in a perfectly competitive industry is $10 and a firm in the industry charges $12.Which of the following will happen?
Creditors
Entities or individuals to whom money is owed by debtors for goods, services, or loans provided.
Chapter 11
A provision in the U.S. Bankruptcy Code that allows companies to reorganize and restructure their debts while continuing their operations.
Individual Debtor
A single person who owes money to a creditor.
Discharge
The act of releasing someone from their duties, obligations, or liabilities, or to fire someone from a job.
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