22. Suppose an increasing-cost industry is in both long-run and short-run equilibrium. Explain what will happen to

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22. 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: (LO13-4)

a. Price.

c. Number of firms in the market.

b. Quantity.

d. Profit.

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Microeconomics

ISBN: 9780077501808

9th Edition

Authors: David Colander

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Question Posted: Oct 15, 2024 02:00 AM

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22. Suppose an increasing-cost industry is in both long-run and short-run equilibrium. Explain what will happen to

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Microeconomics

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