Business, 11.01.2020 03:31, allisonlillian

Arepresentative firm producing watermelons is earning a normal profit at a price of 535 per hundred pounds. draw asupply and demand diagram showing equilibrium at this. price. assuming that the industry is a constant-cost industry, usethe diagram to show the long-term adjustment of the industry as demand falls over time. explain the adjustmentmechanism.

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Arepresentative firm producing watermelons is earning a normal profit at a price of 535 per hundred...