Because of an increase in consumers' income, the demand for wheat increases. Assume that the wheat

stars_and_moon

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Because of an increase in consumers' income, the demand for wheat increases. Assume that the wheat

Because of an increase in consumers' income, the demand for wheat increases. Assume that the wheat industry is perfect competition and that it is an increasing-cost industry. Describe how this increase in demand for wheat will affect the long-run supply and price of wheat.

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kingby

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stars_and_moon Author

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7 years ago

Incredible!

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kingby

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7 years ago

I was slightly debating this one, thanks for the feedback

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