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24-05-2023
Business

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If a perfectly competitive firm raises the price it charges to consumers, which of the following is the most likely outcome?
O A. The firm's total revenue ill increase only if the demand for its product is inelastic O B. The firm will not sell any output. O C. The firm's total revenue will increase only if the demand for its product is elastic. O D. The firm's revenue will not change because some consumers will refuse to pay the higher price

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