Supply, Demand & Equilibrium Unit Two Test Review Game for Frischman Economics Flashcards | StudBud

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Home Library Explore SAT

Supply, Demand & Equilibrium Unit Two Test Review Game for Frischman Economics Flashcards | StudBud

Supply, Demand & Equilibrium Unit Two Test Review Game for Frischman Economics

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Question

What happens to a firm in a perfectly competitive market that raises its price(s)?

Answer

Consumers will substitute a competitor's product.

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