12. Defne is the price-taking owner of an apple orchard. Currently the price of apples is high enough that Lilly is earning positive economic profits. In the long run, Lilly should expect: a. lower apple prices due to exit of existing firms. b. lower apple prices due to entry of new firms. c. higher apple prices due to entry of new firms. d. higher apple prices due to exit of existing firms. 13. The short run is a. less than one year. b. a period of time in which all inputs can be varied. c. a period of time in which no inputs can be varied. d. a period of time in which some inputs can be varied and some cannot