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Assume the peanut industry, a perfectly competitive industry, is in long-run equilibrium with a ...

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Assume the peanut industry, a perfectly competitive industry, is in long-run equilibrium with a ...

Assume the peanut industry, a perfectly competitive industry, is in long-run equilibrium with a market price of $5. If demand for peanuts increases and this industry is a decreasing-cost industry, long-run equilibrium will be reestablished at a price
A) less than $5.
B) greater than $5.
C) equal to $5.
D) either greater than or less than $5, depending on the number of firms that enter the industry.

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Rken Author

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6 years ago

Thanks for your help!!

zsc999

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Yesterday

Good timing, thanks!

vernonb

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2 hours ago

Brilliant ツ

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