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17 Feb 2018
18. Imagine now that there is a technological change in this industry that reduces the cost of producing olives. Total costs fall to TC = 9+ 256. All of the olive-producing firms quickly and costlessly adopt the new technology so that every one of the 100 firms has the same new costs. What will be the new short run equilibrium price? (A) $8 (B) $22 (C) $26 (F) $38 (G) $40 (H) $42 (D) $30 (1) $44 (E) $36 (J) none of the above
18. Imagine now that there is a technological change in this industry that reduces the cost of producing olives. Total costs fall to TC = 9+ 256. All of the olive-producing firms quickly and costlessly adopt the new technology so that every one of the 100 firms has the same new costs. What will be the new short run equilibrium price? (A) $8 (B) $22 (C) $26 (F) $38 (G) $40 (H) $42 (D) $30 (1) $44 (E) $36 (J) none of the above
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0
watching
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