Economic profit in the long run

Reference no: EM131024744

Suppose California has many apple trees, and the price of apples there is low. Nevada has few apple trees, and the price of apples there is high. Abner buys low-priced California apples and ships them to Nevada, where he resells them at a high price. Is Abner exploiting Nevada consumers by doing this? Is Abner likely to earn an economic profit in the long run? Briefly explain.

Reference no: EM131024744

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