If demand surges and pushes up the market price

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If demand surges and pushes up the market price to $20, industry-wide output will rise IN THE SHORT RUN due to...

an increase in the number of firms within the industry

an increase in the amount that each profit-maximizing firm will produce

an increase in the ATC of production

an increase in the number of firms within the industry AND in the amount that each firm will produce.

Reference no: EM131099743

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