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Answer updated on: 12 Feb 2020
Equilibrium quantity to rise and the change in the equilibrium price to be ambiguous
Answer updated on: 12 Feb 2020
Variable costs of staying open are greater than the total revenue due to staying open
Answer updated on: 12 Feb 2020
An increase in the equilibrium price and a decrease in the equilibrium quantity
Answer updated on: 12 Feb 2020
Increase competition in an industry by preventing mergers and breaking up large firms
Answer updated on: 12 Feb 2020
Price will increase; quantity is ambiguous
Answer updated on: 12 Feb 2020
The cost of production on the last unit produced exceeds the value placed on it by buyers
Answer updated on: 12 Feb 2020
Two vases will be sold, and consumer surplus is $5
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