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Perfect competitoin model question for Microeconomics homework?

Suppose a new hormone shot is developed at Texas A&M University that allows all ranchers to cut their feed costs by 27 percent if they use this shot.

a.Graphically illustrate the short-run implications of this development in the ranching industry. b.Graphically illustrate the long-run implications of this development in the ranching industry.

I'm not sure whether only the supply will shift or the ATC and AVC curves also. Here's a link to the types of graphs we're supposed to draw:

Perfect competitoin model question for Microeconomics homework?

Thanks :)

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