-The figure above shows a typical perfectly competitive corn farm, whose marginal cost curve is MC and average total cost curve is ATC. The market is initially in a long-run equilibrium, where the price is $3.00 per bushel. Then, the market demand for corn decreases and, in the short run, the price falls to $2.50 per bushel. In the long run, the price of corn is ________ and a typical farm produces ________ bushels of corn.
Definitions:
Resource Calendar
A calendar that documents the availability, working hours, holidays, and assignments of resources necessary for project completion.
Working Days
Days designated for work, typically excluding weekends and public holidays.
Two-week
A period of 14 consecutive days.
Master Schedule
A comprehensive plan that outlines the key activities and timelines within a project, ensuring that all tasks are completed in sequence and on time.
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