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When a competitive market experiences an increase in demand that induces an increase in producer costs, which consequence is most likely? Select one: a. The
When a competitive market experiences an increase in demand that induces an increase in producer costs, which consequence is most likely? Select one: a. The condition of free entry into the market will be violated. b. The long-run market supply remains constant at minimum long-run average cost. c. The long-run market supply curve will be upward sloping. d. Producer profits must fall in the long run
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