Given an Increase in the Price of the Product of Some

question 32

Multiple Choice

Given an increase in the price of the product of some arbitrarily selected firm, you would expect to see that firm

• A) increase output regardless of other economic indicators.
• B) increase output in most instances depending on economic circumstances that cannot be defined.
• C) increase output if its own price increases faster than the general price level including imports.
• D) reduce output regardless of other economic indicators.
• E) reduce output if its own price increases faster than the general price level excluding imports.

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