Beginning from a Point of Long-Run Equilibrium, an Increase in the Market

question 404

Multiple Choice

Beginning from a point of long-run equilibrium, an increase in the market demand for wheat would result in

• A) an increase in the market price of wheat.
• B) existing wheat producers increasing output in the short run and earning positive economic profits.
• C) new firms entering the wheat industry in the long run.
• D) all of the above.

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