Question: When can we expect a factor-price effect to occur? How does a factor-price effect alter an industry's short-run and long-run supply curves?

When can we expect a factor-price effect to occur? How does a factor-price effect alter an industry's short-run and long-run supply curves?

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When can we expect a factor-price effect to occur? How does a factor-price effect alter an industry's short-run and long-run supply curves? Illustrate (graph).

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