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Imagine an industry is initially in a long - run equilibrium. Then the industry experiences an increase in demand. What effect will this have on

Imagine an industry is initially in a long

-

run equilibrium. Then the industry experiences an

increase in demand. What effect will this have on the price in the new long

-

run equilibrium?

.

increasing

.

decreasing

.

doesn

t change

.

impossible to tell

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