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long-run equilibrium at a price of $3.50 per box and a quantity of 4 million boxes sold per year. Assume that the aglielu is a
long-run equilibrium at a price of $3.50 per box and a quantity of 4 million boxes sold per year. Assume that the aglielu is a constant-cost industry. If the demand for gluten-free spaghetti increases permanently, which of the following combinations of equilibrium price and equil expect to see in the long run? a. A price of $3.50 per box and a quantity of 4 million boxes. b. A price of $3.50 per box and a quantity of more than 4 million boxes. c. A price of more than $3.50 per box and a quantity of more than 4 million boxes. d. A price of less than $3.50 per box and a quantity of less than 4 million boxes. b. After demand increases, and supply increases, the quantity will be more than 4 million boxes, but the price will return to its initial level. O d. After demand increases, and supply increases, the quantity and the price will fall below their initial levels. O a. After demand increases, and supply increases, the quantity and the price will be return to their initial levels. O c. After demand increases, and supply increases, the quantity will be more than 4 million boxes, and the price will be higher than its initial level
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