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Figure 12-7 the Graphs in Figure 12-7 Represent the Perfectly

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Figure 12-7 Figure 12-7   The graphs in Figure 12-7 represent the perfectly competitive market demand and supply curves for the apple industry and demand and cost curves for a typical firm in the industry. -Refer to Figure 12-7.Which of the following statements is true? A) The current market price is $3 but the firm will be able to increase the price in the future. B) The current market price is $3 but the price will fall in the long-run as a result of a decrease in demand. C) The current market price is $3 but the price will fall in the long-run as new firms enter the market. D) The current market price is $3 but the price will increase in the future as the market demand increases. The graphs in Figure 12-7 represent the perfectly competitive market demand and supply curves for the apple industry and demand and cost curves for a typical firm in the industry.
-Refer to Figure 12-7.Which of the following statements is true?


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