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Homework answers / question archive / If firms collectively increase the level of markup that they charge on goods and services, what effect will this have on equilibrium output and the equilibrium price level in the medium run? a) neither prices nor output will change b) price will increase while output will remain the same c) price will increase and output will decrease d) price will increase and output will increase e) price will decrease and output will increase

If firms collectively increase the level of markup that they charge on goods and services, what effect will this have on equilibrium output and the equilibrium price level in the medium run? a) neither prices nor output will change b) price will increase while output will remain the same c) price will increase and output will decrease d) price will increase and output will increase e) price will decrease and output will increase

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If firms collectively increase the level of markup that they charge on goods and services, what effect will this have on equilibrium output and the equilibrium price level in the medium run?

a) neither prices nor output will change

b) price will increase while output will remain the same

c) price will increase and output will decrease

d) price will increase and output will increase

e) price will decrease and output will increase

Option 1

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