Pic Industries produces plastic toothpicks that it sells to distributors in the Southwest. During the early $1990$s$,$ the price of the plastic it uses to produce toothpicks increased by $46$ percent, due to a local shortage of recycled plastic containers. Assuming that the market for plastic toothpicks most closely resembles that of perfect competition and that other firms in the industry do not experience similar increases in costs in the short run, could Pic industries increase the price of its product to cover the increase in costs. Use the assumptions of perfect competition to answer this question.