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explain how a perfact market responds to changes in consumer demand

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explain how a perfact market responds to changes in consumer demand
Answered Same Day Dec 21, 2021

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Robert answered on Dec 21 2021
118 Votes
explain how a perfact market responds to changes in consumer demand
let us start from a point of long run equili
ium so that P= AC=MR=MC at E1. Assume that demand increases due to extraneous factors (DD1 to DD2) . This causes industry demand curve to shift upwards, so that price rises as we move...
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