Business, 06.08.2021 22:00, stotherow5

Suppose a perfectly competitive market is in long-run equilibrium with a price of $12. Then there is a permanent increase in demand. As a result, in the short run the market price and in the long run the number of firms and the price is the price was in the short run.

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Suppose a perfectly competitive market is in long-run equilibrium with a price of $12. Then there is...