Suppose that all of the firms in the coal mining industry, Business Economics

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Suppose that all of the firms in the coal mining industry

Suppose that all of the firms in the coal mining industry were willing and able to produce and sell 5 million tons per week at a price of $3/ton last week. This week the firms are not willing and able to produce and sell that amount at a price below $4/ton. What explains this change? Is it a change in supply or a change in quantity supplied? What could have caused such a change?[

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Business Economics: Suppose that all of the firms in the coal mining industry

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