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Title: When firms are said to be price takers, it implies that if a firm raises its price,

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Q:

When firms are said to be price takers, it implies that if a firm raises its price,

           a.   buyers will go elsewhere.

           b.   buyers will pay the higher price in the short run.

           c.    competitors will also raise their prices.

           d.   firms in the industry will exercise market power.


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Title: When firms are said to be price takers, it implies that if a firm raises its price,

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    • Posted Date: Apr 27, 2012 at 9:08:43 PM

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A:
...sp;        a.   buyers will go elsewhere.     &nb...
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