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Independent trucking (i.e. large semi trucks) is an industry that can be considered perfectly competitive.Suppose that U.S. manufacturers produce less output. What impact will this
Independent trucking (i.e. large semi trucks) is an industry that can be considered perfectly competitive.Suppose that U.S. manufacturers produce less output. What impact will this have on the independent trucking industry in the short run, in terms of the market price, output of an individual firm, and market equilibrium quantity? Explain reasoning. What impact will the increase in manufacturing output have in the long run?
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