Demand and supply are initially at Do and S, in the graph. Demand increases and new firms enter the industry; therefore, in the long run, demand and supply move to D¡ and S1. The long-run industry supply curve is SLR. Price Using the information in the graph, what conclusion can be drawn? Without question, this industry experienced economies of scale as it expanded. So S, S. In the long run, industry costs have remained constant. In the long run, industry costs have increased. In the long run, industry costs have decreased. D, D Output

Can Giffin goods also be normal goods?

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Number of Sodas per day Total Utility Marginal Utilit 1 20 35 3 47 12 4 10 Refer to the table, The marginal utility of the second soda per day is L. (Answer should be in the form of numerical characters, e.g. 20) Enter your answer here