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Suppose Egg Producers Succeed in Permanently Raising the Price of Their

Question 118

Multiple Choice

Suppose egg producers succeed in permanently raising the price of their product by 15%,and as a result the quantity demanded falls by 15% in the short run.In the long run we can expect the quantity demanded to fall by


A) 0%.
B) 15%.
C) between 0 and 15%.
D) more than 15%.
E) 100%.

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