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.All of the following occur except
A) in the long run,firms make an economic profit.
B) the price rises in the short run.
C) the equilibrium quantity increases.
D) in the short run,existing firms make an economic profit.
E) the number of firms in the long run is greater than the number of firms in the short run.
Correct Answer:

Verified
Correct Answer:
Verified
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