Assume that a perfectly competitive hand sanitiser market is in long-run equilibrium. The price of hand sanitisers is observed to increase during the COVID 19 pandemic, and then it returns back to its normal price after the pandemic. Use the diagram below to discuss this market before, during and after the pandemic. Include in your discussion the profit levels in each case.
Answers
Answer:
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Explanation:
during" (and any subsequent words) was ignored because we limit queries to 32 words.
Concept Introduction: The current pandemic is the worst of all.
Explanation:
We have been Given: Assume that a perfectly competitive hand sanitiser market is in long-run equilibrium. The price of hand sanitisers is observed to increase during the COVID 19 pandemic, and then it returns back to its normal price after the pandemic. Use the diagram below to discuss this market before, during and after the pandemic. Include in your discussion the profit levels in each case.
We have to Find: The Correct answer.
Assume that a perfectly competitive hand sanitiser market is in long-run equilibrium. The price of hand sanitisers is observed to increase during the COVID 19 pandemic, and then it returns back to its normal price after the pandemic. Use the diagram below to discuss this market before, during and after the pandemic. Include in your discussion the profit levels in each case.
Final Answer: Assume that a perfectly competitive hand sanitiser market is in long-run equilibrium. The price of hand sanitisers is observed to increase during the COVID 19 pandemic, and then it returns back to its normal price after the pandemic. Use the diagram below to discuss this market before, during and after the pandemic. Include in your discussion the profit levels in each case.
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