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Which is the best answer to this question please. In a perfectly competitive market: when a firm sells another unit of output, the addition to
Which is the best answer to this question please.
In a perfectly competitive market:
- when a firm sells another unit of output, the addition to total revenue is equal to market price
2.if a firm lowers its price, it will gain customers and increase total profits
3.none of the these
4. if a firm raises its price, it will lose some, but not all, of its customers
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