In 2019, pastured eggs sold for more than twice the price of cage-free eggs and almost 5 times the price of conventional eggs, making pastured eggs more profitable than the other eggs. Over time, this high price for pastured eggs will likely ________ as more farmers decide to ________ the perfectly competitive pastured egg market.

Question

Quizplus · Accepted Answer

When more farmers enter a perfectly competitive market, the increased supply tends to lower prices, making pastured eggs less expensive over time.

In 2019, Pastured Eggs Sold for More Than Twice the Price