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Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050

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BuyFindarrow_forward

Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050
Textbook Problem

When a competitive firm doubles the amount it sells, what happens to the price of its output and its total revenue?

To determine
The price of output and total revenue if the firm increases selling.

Explanation

When the firm increases its supply, it does not significantly affect the total supply. Thus, it would not affect the market price...

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