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Assume there is price taking in the market for apples. SRS is the short-run supply curve and LRS is the long-run supply curve. Carl, an
Assume there is price taking in the market for apples. SRS is the short-run supply curve and LRS is the long-run supply curve. Carl, an apple farmer, creates a 100% organic apple juice drink. After initial tasting, the demand increases, to the delight of apple farmers everywhere. please shift the appropriate curve(s) in the graph for the apple market in the short run, when demand increases and existing farmers increase production of apples as much as they can meet the increased demand
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