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1 If firm’s collectively increase the level of markup that they charge on

goods and services, what effect will


What is the expected effect of an increase in unemployment benefits on equilibrium outputand the equilibrium price level in the medium run?

A) Neither prices nor output will change

B) Prices will increase, while output will remain the same

c) Prices will increase, and output will decrease

D) Prices will increase, and output will increase

E) Prices will decrease, and output will increase