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Business, 06.04.2020 19:31 nakiyapulley7466

Suppose that the shrimp industry is in long-run equilibrium at a price of $5 per pound of shrimp and a quantity of 350 million pounds per year. Suppose the Surgeon General issues a report saying that eating shrimp is bad for your health.
The Surgeon General's report will cause consumers to demand shrimp at every price. In the short run, firms will respond by

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Suppose that the shrimp industry is in long-run equilibrium at a price of $5 per pound of shrimp and...
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