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Suppose that the airline industry is in long-run equilibrium when the price of gasoline increases, raising the cost of operating airplanes. In the long run,
Suppose that the airline industry is in long-run equilibrium when the price of gasoline increases, raising the cost of operating airplanes. In the long run, the number of airlines in business should: multiple choice remain constant with lower profits. decrease. increase. remain constant with constant profits
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Microeconomics Theory And Applications With Calculus
Authors: Jeffrey M. Perloff
4th Edition
134167384, 134167381, 978-0134167381
