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TB MC Qu . 0 6 - 1 0 5 If the cost of production... If the cost of production rises for all the firms

TB MC Qu

. 06 - 105

If the cost of production...

If the cost of production rises for all the firms in a perfectly competitive industry

Multiple Choice

total profit increases.

the marginal cost curve shifts downward.

total revenue increases.

each firm will supply less output at any given price.

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