Suppose a Firm in a Competitive Market Reduces Its Output

question 352

Multiple Choice

Suppose a firm in a competitive market reduces its output by 20 percent. As a result, the price of its output is likely to

• A)increase.
• B)remain unchanged.
• C)decrease by less than 20 percent.
• D)decrease by more than 20 percent.

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Definitions:

Inappropriate

Describes actions or behaviors that are not suitable or acceptable in a given context.

Unacceptable Behavior

Unacceptable behavior refers to actions that are deemed inappropriate or disruptive based on societal, cultural, or specific context standards.

Express Feelings

The act of verbally or non-verbally communicating one's emotions to others.

Act

To take action or behave in a specified manner.