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Question 1 1 pts The market for gasoline is perfectly competitive and begins in long-run equilibrium. Due to the rise in electric vehicles, demand for

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Question 1 1 pts The market for gasoline is perfectly competitive and begins in long-run equilibrium. Due to the rise in electric vehicles, demand for gas falls. Compared to its initial long-run equilibrium value, what happens to the output produced by a single rm when the market settles into the new long-run equilibrium? Assume that this is a constant cost industry. 0 Increase O Unchanged 0 Not enough information to say. 0 Decrease

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