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Say the ice market is perfectly competitive. Show using the supply and demand model that a rise in the price of ice could help a
Say the ice market is perfectly competitive. Show using the supply and demand model that a rise in the price of ice could help a ice producer/supplier earn positive economic profits in the short run. Also use the supply and demand model to show that in the long run, the individual face mask producer/supplier can only earn zero economical profits.
https://www.econlib.org/price-signals-price-gouging-and-philanthropy/
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