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NJ In the above figure, the left hand side graph represents a perfectly competitive industry and the right hand side graph represents a perfectly competitive
NJ In the above figure, the left hand side graph represents a perfectly competitive industry and the right hand side graph represents a perfectly competitive firm. Suppose that the original demand curve is Do, as labeled. Due to an increase in income, the demand curve shifts to the right. Then, O the firm will expand output. O the firm will decrease output. O the firm will be making zero economic profit. O the firm will go out of business
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