Draw short run firm and industry competitive equilibrium, Microeconomics

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Draw short run firm and industry competitive equilibrium

Draw short run firm and industry competitive equilibrium for a perfectly competitive gator-farming industry before the number of alligator farms in Florida doubled. For simplicity, assume the gator farm is earning zero economic profit. Now show the short-run effect of an increase in demand for alligators.

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Microeconomics: Draw short run firm and industry competitive equilibrium

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