Question

The market for cashews is perfectly competitive and comprised of fifty (50) firms with identical cost structures and U-shaped
Which of the following is equal to $4/pound for the representative firm in the long run equilibrium described by your diagram
An improvement in cashew harvesting technology lowers the per unit cost of cashew production by $3 / pound. As a result, the
As a result of this technological improvement, the representative firms output level in the short run, and it make positive
How will this industry reach its new long run equilibrium? Namely, what will happen to the number of firms, to market price,
111. and In the new long run equilibrium, market quantity will be the number of firms will be b. c. Greater than 100 pounds ;
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Answer #1

The half first is half of the as follows: Question is not clear. The second A. a MC Mol Price broft / Ac. $4 -- - f - ET & ex

d o number option of A. since constant elasticity firms will increase by is turo there, thus, tires

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