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Home Page Test Answers It is said that in a perfectly competitive market, raising the price of a firm’s product from the prevailing market price of $179.00 to $199.00, ____________________. - Q/A (Question and Answer)

It is said that in a perfectly competitive market, raising the price of a firm’s product from the prevailing market price of $179.

Question
It is said that in a perfectly competitive market, raising the price of a firm’s product from the prevailing market price of $179.00 to $199.00, ____________________. – Q/A (Question and Answer)
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Sean Mitchell

Test Answer

Answer:

could likely result in a notable loss of sales to competitors

Recource microeconomics 8

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