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Suppose that the tempeh industry is initially operating in long-run equilibrium at a price level of $5 per pound of tempeh and quantity of 75
Suppose that the tempeh industry is initially operating in long-run equilibrium at a price level of $5 per pound of tempeh and quantity of 75 million pounds per year. Suppose that the Food and Drug Administration (FDA) reports that compounds naturally occurring in tempeh are linked to chronic Miness The FDA's research is expected to cause consumers to demand tempeh at every price. In the short run, firms will respond by
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