Describe what happens to output price and economic profit, Microeconomics

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Describe what happens to output price and economic profit

Problem

Describe what happens to output, price, and economic profit in the short run and in the long run in a competitive market following:

An increase in demand

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Describe what happens to output price and economic profit

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Microeconomics: Describe what happens to output price and economic profit

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