If a perfectly competitive market in long-run equilibrium witnesses an increase in demand, what will happen to

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If a perfectly competitive market in long-run equilibrium witnesses an increase in demand, what will happen to price?

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Microeconomics

ISBN: 9781337617406

13th Edition

Authors: Roger A Arnold

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Question Posted: Apr 05, 2024 05:00 AM

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If a perfectly competitive market in long-run equilibrium witnesses an increase in demand, what will happen to

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Initially price will rise Recall from Chapter 3 that when de...View the full answer

Microeconomics

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