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Author Question: Assume the market for beef is perfectly competitive. Beef producers are currently earning a zero ... (Read 60 times)

ETearle

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on: Apr 19, 2019

Assume the market for beef is perfectly competitive. Beef producers are currently earning a zero economic profit. If consumers switch from chicken to beef, which of the following is most likely to occur?


◦ Beef producers will now incur economic profits in both the short run and the long run.
◦ Beef producers will incur economic profits in the short run. Some producers will enter the industry until all firms in the industry are earning a zero economic profit.
◦ Beef producers will incur economic profits in the short run. Some producers will enter the industry as long as all firms in the industry are earning an economic profit.
◦ Beef producers will now earn economic losses in the short run, and there will be no additional adjustments in the long run.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by ETearle on Apr 19, 2019

flexer1n1

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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ETearle

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Reply #2 on: Apr 19, 2019
Thanks


flexer1n1

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Reply #3 on: Apr 19, 2019
Welcome :)


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