Economic profit in the long run

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Suppose California has many apple trees, and the price of apples there is low. Nevada has few apple trees, and the price of apples there is high. Abner buys low-priced California apples and ships them to Nevada, where he resells them at a high price. Is Abner exploiting Nevada consumers by doing this? Is Abner likely to earn an economic profit in the long run? Briefly explain.

Reference no: EM131024744

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