Business, 17.07.2019 03:10 bgallman153p71edg

Suppose that the market for candy canes operates under conditions of perfect competition, that it is initially in long-run equilibrium, and that the price of each candy cane is $0.10. now suppose that the price of sugar rises, increasing the marginal and average total cost of producing candy canes by $0.05; there are no other changes in production costs. based on the information given, we can conclude that once all the adjustments to long-run equilibrium are achieved, the price of candy canes will equal: five cents. ten cents. fifteen cents

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Suppose that the market for candy canes operates under conditions of perfect competition, that it is...