2.
If the market price of a baseball cap is P5 in the short run, how many would the firm produce? How many would it produce in long-run equilibrium?
- Q5 in the short run and Q5 in the long run.
- Q5 in the short run and Q4 in the long run.
- Q4 in the short run and Q4 in the long run.
- Q4 in the short run and Q2 in the long run.
- Q2 in the short run and Q2 in the long run.
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