Business, 27.11.2019 03:31 izaiahfieods

Assume the market for organic produce sold at farmers' markets is perfectly competitive. all else equal, as more farmers choose to produce and sell organic produce at farmers' markets, what is likely to happen to the equilibrium price of the produce and profits of the organic farmers in the long run?
a) the equilibrium price is likely to increase and profits are likely to remain unchanged.
b) the equilibrium price is likely to remain unchanged and profits are likely to increase.
c) the equilibrium price is likely to decrease and profits are likely to decrease.
d the equilibrium price is likely to increase and profits are likely to increase.

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Assume the market for organic produce sold at farmers' markets is perfectly competitive. all else eq...