Assume agricultural products are identical and there are many sellers and buyers of agriculture products: b. Graphically,
Fantastic news! We've Found the answer you've been seeking!
Question:
Assume agricultural products are identical and there are many sellers and buyers of agriculture products:
b. Graphically, show the market equilibrium of the industry and a seller where economic profits equal zero. Please include marginal revenues, demand curve, price, and quantity at the equilibrium.
c. From part b above, if the number of buyers increases, show the new short-run equilibrium for a seller and the industry as a whole.
Posted Date: