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PART B: The lettuce market is perfectly competitive. Assume that the market was in long run equilibrium before the floods. Further assume that the cost

PART B: The lettuce market is perfectly competitive. Assume that the market was in long run equilibrium before the floods. Further assume that the cost of producing lettuce did not change. What would be the impact of the floods on the profit of each lettuce farmer (firm)? Explain in detail

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