Business, 23.12.2019 22:31 estheradame547

Suppose that the market for candy canes operates under conditions of perfect competition, that it is initially in long-run equilibrium, and that the price of each candy cane is $0.10. now suppose that the price of sugar rises, increasing the marginal and average total costs of producing candy canes by $0.05; there are no other changes in production costs. based on the information given, we can conclude that in the long we will observe: a. neither entry nor exit from the industry. b. firms leaving the industry. c. some firms entering and some firms leaving. d. firms entering the industry.

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Suppose that the market for candy canes operates under conditions of perfect competition, that it is...

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