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D Question 41 1 pts The gromet industry is perfectly competitive and all firms have access to the same production technologies and the same inputs.

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D Question 41 1 pts The gromet industry is perfectly competitive and all firms have access to the same production technologies and the same inputs. Furthermore, firms in the industry can buy as much of the inputs as they want at constant prices. The market for gromets is in long-run equilibrium at a price of $5.00/kg. An announcement that gromets can harm your health causes demand for gromets to fall sharply and the price to fall to $3.50/kg. When the long-run equilibrium is re-established, the price of gromets will be exactly $5.00/kg less than $3.50/kg exactly $3.50/kg O more than $3.50/kg but less than $5.00/kg O None of the options provided is correct

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