Joey Kuang

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2. An industry is in long run equilibrium. The supply of oranges rises because of a decrease in the cost of the fertilizer required to produce the oranges a) short run profits, price decreases, industry quantity decreases b) short run loss, price increases, industry quantity decreases c) short run profits, price decreases, industry quantity increases d) short run loss, price decreases, industry quantity increases 2. An industry is in long run equilibrium. The supply of oranges rises because of a decrease in the cost of the fertilizer required to produce the oranges a) short run profits, price decreases, industry quantity decreases b) short run loss, price increases, industry quantity decreases c) short run profits, price decreases, industry quantity increases d) short run loss, price decreases, industry quantity increases 2. An industry is in long run equilibrium. The supply of oranges rises because of a decrease in the cost of the fertilizer required to produce the oranges a) short run profits, price decreases, industry quantity decreases b) short run loss, price increases, industry quantity decreases c) short run profits, price decreases, industry quantity increases d) short run loss, price decreases, industry quantity increases 2. An industry is in long run equilibrium. The supply of oranges rises because of a decrease in the cost of the fertilizer required to produce the oranges a) short run profits, price decreases, industry quantity decreases b) short run loss, price increases, industry quantity decreases c) short run profits, price decreases, industry quantity increases d) short run loss, price decreases, industry quantity increases 2. An industry is in long run equilibrium. The supply of oranges rises because of a decrease in the cost of the fertilizer required to produce the oranges a) short run profits, price decreases, industry quantity decreases b) short run loss, price increases, industry quantity decreases c) short run profits, price decreases, industry quantity increases d) short run loss, price decreases, industry quantity increases 2. An industry is in long run equilibrium. The supply of oranges rises because of a decrease in the cost of the fertilizer required to produce the oranges a) short run profits, price decreases, industry quantity decreases b) short run loss, price increases, industry quantity decreases c) short run profits, price decreases, industry quantity increases d) short run loss, price decreases, industry quantity increases 2. An industry is in long run equilibrium. The supply of oranges rises because of a decrease in the cost of the fertilizer required to produce the oranges a) short run profits, price decreases, industry quantity decreases b) short run loss, price increases, industry quantity decreases c) short run profits, price decreases, industry quantity increases d) short run loss, price decreases, industry quantity increases 2. An industry is in long run equilibrium. The supply of oranges rises because of a decrease in the cost of the fertilizer required to produce the oranges a) short run profits, price decreases, industry quantity decreases b) short run loss, price increases, industry quantity decreases c) short run profits, price decreases, industry quantity increases d) short run loss, price decreases, industry quantity increases 2. An industry is in long run equilibrium. The supply of oranges rises because of a decrease in the cost of the fertilizer required to produce the oranges a) short run profits, price decreases, industry quantity decreases b) short run loss, price increases, industry quantity decreases c) short run profits, price decreases, industry quantity increases d) short run loss, price decreases, industry quantity increases 2. An industry is in long run equilibrium. The supply of oranges rises because of a decrease in the cost of the fertilizer required to produce the oranges a) short run profits, price decreases, industry quantity decreases b) short run loss, price increases, industry quantity decreases c) short run profits, price decreases, industry quantity increases d) short run loss, price decreases, industry quantity increases 2. An industry is in long run equilibrium. The supply of oranges rises because of a decrease in the cost of the fertilizer required to produce the oranges a) short run profits, price decreases, industry quantity decreases b) short run loss, price increases, industry quantity decreases c) short run profits, price decreases, industry quantity increases d) short run loss, price decreases, industry quantity increases 2. An industry is in long run equilibrium. The supply of oranges rises because of a decrease in the cost of the fertilizer required to produce the oranges a) short run profits, price decreases, industry quantity decreases b) short run loss, price increases, industry quantity decreases c) short run profits, price decreases, industry quantity increases d) short run loss, price decreases, industry quantity increases 2. An industry is in long run equilibrium. The supply of oranges rises because of a decrease in the cost of the fertilizer required to produce the oranges a) short run profits, price decreases, industry quantity decreases b) short run loss, price increases, industry quantity decreases c) short run profits, price decreases, industry quantity increases d) short run loss, price decreases, industry quantity increases 2. An industry is in long run equilibrium. The supply of oranges rises because of a decrease in the cost of the fertilizer required to produce the oranges a) short run profits, price decreases, industry quantity decreases b) short run loss, price increases, industry quantity decreases c) short run profits, price decreases, industry quantity increases d) short run loss, price decreases, industry quantity increases 2. An industry is in long run equilibrium. The supply of oranges rises because of a decrease in the cost of the fertilizer required to produce the oranges a) short run profits, price decreases, industry quantity decreases b) short run loss, price increases, industry quantity decreases c) short run profits, price decreases, industry quantity increases d) short run loss, price decreases, industry quantity increases 2. An industry is in long run equilibrium. The supply of oranges rises because of a decrease in the cost of the fertilizer required to produce the oranges a) short run profits, price decreases, industry quantity decreases b) short run loss, price increases, industry quantity decreases c) short run profits, price decreases, industry quantity increases d) short run loss, price decreases, industry quantity increases

Answer

Tutor Amanda Afi

Answer is C. In the short run, a shift down of supply causes equilibrium price to...


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