Use the following to answer questions: 
-(Table: Cherry Farm) Look at the table Cherry Farm. If Hank and Helen have one of 100 identical farms in the perfectly competitive cherry industry, explain how Hank and Helen and the industry will react in the short run and the long run to a price of $3.75 per pound for cherries.
Definitions:
Trade Unions
Organizations formed by workers from related fields that aim to protect their collective interests and improve working conditions, wages, and benefits through collective bargaining.
Social Harmony
The state of peaceful coexistence and cooperation within a society, where conflicts are minimized and collective welfare is prioritized.
Industry Unions
Labor organizations that represent workers across an entire industry or sector, focusing on collective bargaining and rights for all workers within that industry.
General Unions
Labor unions that represent workers from various industries and occupations, as opposed to those focusing on a specific trade or profession.
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