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please answer MC Qu. 11-59 (Algo) Purely competitive industry X has... urely competitive industry X has increasing costs and its product is a normal good.

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MC Qu. 11-59 (Algo) Purely competitive industry X has... urely competitive industry X has increasing costs and its product is a normal good. The ndustry is currently in long-run equilibrium. The economy now goes into a recession and verage incomes decline. The result will be Multiple Choice O an increase in the output, but not in the price of the product. O a decrease in output, and in the price of the product. O a decrease in output but not in the price of the product. O an increase in output and in the price of the product

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