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If we assume that the ice market is perfectly competitive in a time of crisis how using the supply and demand model that a rise
If we assume that the ice market is perfectly competitive in a time of crisis
how using the supply and demand model that a rise in the price of ice could help a ice producer/supplier earn above-normal profits in the short run.
Also use the supply and demand model to show that in the long run, the individual producers/suppliers can only earn zero economic profit.
Bellow is an article attached https://www.econlib.org/library/Columns/y2007/Mungergouging.html?to_print=true
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