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Lilly is the price taking owner of an apple orchard the price of apples is high...

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Economics

Lilly is the price taking owner of an apple orchard the price of apples is high enough that lilly is earning positive economics profits. In the long run lilly should expect 1. Lower apple prices due to the exit of some existing firms 2 higher apple prices due to the exit of some existing firm s 3 lower apple prices due to the entry of new firms 4 no change in the price of apples due to entry/ exit of firms

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