Suppose That Purely Competitive Firms Producing Cashews Discover That P Exceeds MC.

Suppose that purely competitive firms producing cashews discover that P exceeds MC.

 

a. Is their combined output of cashews too little, too much, or just right to achieve allocative efficiency?

Save your time - order a paper!

Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines

Order Paper Now

 

(a)too little

(b)too much

(c)just right

 

b. In the long run, what will happen to the supply of cashews and the price of cashews?

 

(a)Supply will increase and the price of cashews will increase.

(b)Supply will increase and the price of cashews will decrease.

(c)Supply will decrease and the price of cashews will decrease

(d)Supply will decrease and the price of cashews will increase.

 
"Our Prices Start at $11.99. As Our First Client, Use Coupon Code GET15 to claim 15% Discount This Month!!"