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Which of the following statements is (are) TRUE? I. As market prices increase, industry output rises because individual firms have upward-sloping marginal cost curves. II. As ma…

Which of the following statements is (are) TRUE? I. As market prices increase, industry output rises because individual firms have upward-sloping marginal cost curves. II. As ma…
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Which of the following statements is (are) TRUE? I. As market prices increase, industry output rises because individual firms have upward-sloping marginal cost curves. II. As market prices increase, industry output rises because high-cost producers enter the industry. III. As market prices increase, industry output rises because individual firms have upward-sloping short-run supply curves.

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User Quapka
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1 vote

Answer:

I, II, and III. All of those are true.

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User Robmclarty
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