Question: Please use typing instead of handwriting. Please write clearly if you cannot type. Thank you! ? Suppose eggs are produced competitively, and that the egg

Please use typing instead of handwriting. Please write clearly if you cannot type. Thank you!

Suppose eggs are produced competitively, and that the egg industry is a constant cost in- dustry. (a) Fill in the table with appropriate responses (increases, decreases, no change; whether the event has a permanent effect on the price of eggs) in response to each of the following events: Short-Run Long-Run Permanent Event Effect Effect or on Price on Price Temporary Demand for egges increases Cost of corn (an input into egg production) decreases (b) How would your answer to (b) change if the egg industry were a decreasing cost indus- try? Short-Run Long-Run Permanent Event Effect Effect or on Price on Price Temporary Demand for egges increases Cost of corn (an input into egg production) decreases

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