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22 July, 14:19

What happens to a monopolistically competitive firm that begins to charge an excessive price for its product? consumers will substitute with a rival's product. the government will regulate the price. consumers will boycott the product. the firm will go out of business?

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  1. 22 July, 17:41
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    The correct answer to your question is: The government will regulate the price.

    I hope you are satisfied with my answer.
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