tylermorse5284 tylermorse5284

08-05-2024
Business

Answered

Suppose that the market for cantaloupes is currently in long-run competitive equilibrium at a price of $3 per melon. A listeria outbreak in cantaloupe crops leads to a sharp decline in the demand for cantaloupes.

a. In the short run, what will happen to the price of a cantaloupe?

Answer :

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