A perfectly competitive tomato industry is in long-run, Ask an Expert

Economics

A perfectly competitive tomato industry is in long-run equilibrium. Now suppose that some consumers are getting sick by eating tomatoes that contain salmonella. Describe how this change will affect short-run economic profits. What will happen to the number of tomato growers in the long run? How will price and output in this industry adjust in the long run?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91918439

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