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Jackie's Coffee purchases coffee beans from a local farmer. A drought has caused the price of beans to increase. This increase in marginal cost causes
Jackie's Coffee purchases coffee beans from a local farmer. A drought has caused the price of beans to increase. This increase in marginal cost causes Jackie's Coffee, a profit-maximizing monopolistically competitive firm, to Select one: a. raise the price and decrease output. b. raise the price and raise output. c. lower the price and lower output. d. lower the price and increase output
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