MCQOPTIONS
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| 1. |
If a firms cost of raw material increases then |
| A. | Market price of the final product will also increase |
| B. | Equilibrium level of quantity also increases |
| C. | Marginal cost curve will shift upward |
| D. | Marginal cost curve will shift downward |
| Answer» D. Marginal cost curve will shift downward | |