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Answer to Question #121319 in Economics for Mafuri Mogoane

Question #121319
Firms operating in market structure may decide to restrict output and increase prices identify and explain this form of economic behavior exhibited by firms in the industry
1
Expert's answer
2020-06-10T18:57:02-0400

Firms operating in monopolistic or monopolistically competitive market structure may decide to restrict output and increase prices according to their market power and ability to change the output and market price.


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