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Author Question: Assume the market for orange juice is perfectly competitive. Orange juice producers currently earn a ... (Read 49 times)

debasdf

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on: Apr 19, 2019

Question 1

In long-run equilibrium for a perfectly competitive industry, price equals


◦ short-run marginal cost.
◦ short-run average cost.
◦ long-run average cost.
◦ All of these are correct.

Question 2

Assume the market for orange juice is perfectly competitive. Orange juice producers currently earn a zero economic profit. Orange juice producers will likely begin to incur economic losses in the short run, and some producers will exit the industry until those remaining earn a zero economic profit, if consumers


◦ switch from grape juice to orange juice.
◦ switch from orange juice to grape juice.
◦ do not change their demand for orange juice.
◦ All of these are correct.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by debasdf on Apr 19, 2019

jrpg123456

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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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debasdf

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Reply #2 on: Apr 19, 2019
Thanks


jrpg123456

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


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