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QUESTION
suppose an increasing-cost industry is in both long-run and short-run equilibrium. Explain what will happen to the following in the long run if the...
suppose an increasing-cost industry is in both long-run and short-run equilibrium. Explain what will happen to the following in the long run if the demand for that product declines:A. PriceB. QuantityC. Number of firms in the marketD. Profit
Suppose an increasing-cost industry is in both long-run and short-run equilibrium. Explain whatwill happen to the following in the long run if the demand for that product declines:Answer:A....