The Market for Maple Syrup Is Perfectly Competitive

question 413

Multiple Choice

The market for maple syrup is perfectly competitive. Suppose that the market is in long-run equilibrium when the market demand for maple syrup increases. After the demand increases, a typical firm will

• A) make zero economic profit.
• B) make an economic profit.
• C) incur an economic loss.
• D) exit the market.

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