Assume a perfectly competitive industry is in long-run equilibrium at a price of $50.If this industry is a constant-cost industry and the demand for the product increases,long-run equilibrium will be reestablished at a price

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In a constant-cost industry, when demand increases, the supply can be increased without increasing the per unit cost of production. Thus, in the long run, the industry can supply the additional demand at the same price of $50, maintaining the long-run equilibrium price.

Assume a Perfectly Competitive Industry Is in Long-Run Equilibrium at a Price