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What would happen if kyle raised his price

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Kyle, a high-school student, mows lawns for families in his neighborhood. The going rate is $12 for each lawn-mowing service. Kyle would like to charge $20 because he believes he has more experience mowing lawns than the many other teenagers who also offer the same service. If the market for lawn mowing services is perfectly competitive, what would happen if Kyle raised his price?

Reference no: EM131486617

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