Produces radishes in perfectly competitive industry

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Mad Radish Farm produces radishes in a perfectly competitive industry. The graphs below show the short-run and long-run situations of the farm and the radish industry. (SRS means the Industry Short-run Supply Curve, and LRS means the Industry Long-run Supply Curve.) The farm was producing at point A (the industry was producing at point C), when the industry demand for radishes shifted to the right.

Reference no: EM133305682

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