Social Studies, 01.04.2021 20:40, paulandigi
7. Penny's Farm grows peaches and operates in a constant-cost, perfectly competitive peach
industry. Penny's Farm is currently in long-run equilibrium.
a. Draw correctly labeled side-by-side graphs for the peach market and Penny's
Farm, and show each of the following:
i. Market output and price, labeled as Qm and PM, respectively
ii. Penny's Farm output and price, labeled as Q and Ps, respectively
b. Assume the demand for peaches increases. On your graphs in part (a) show what
will happen to each of the following in the short run.
i. Market output and price, labeled as Q. and P , respectively
ii. The area of profit or loss earned by Penny's Farm, shaded completely.
c. Relative to your answer in part (b), state what will happen to the market
equilibrium price and quantity of peaches in the long run. Explain.
Answers: 3
Social Studies, 22.06.2019 08:30, 130005401
Catherine sat down will all of her income details from the past year to calculate the total income she had in that period. after she created a consolidated income statement, she deducted some tax-exempt income details from the statement. what term would catherine use for this final income calculation?
Answers: 1
Social Studies, 22.06.2019 13:30, macattack6276
Lots of points: economics: a rise in price sends a signal to producers to supply. a. reduce b. increase c. maintain d. stop
Answers: 2
Social Studies, 22.06.2019 18:00, silasjob09
What are policymakers trying to do by using the media to deliver specific messages to citizens?
Answers: 2
7. Penny's Farm grows peaches and operates in a constant-cost, perfectly competitive peach
industry...
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