question archive Carmela's Churros is a perfectly competitive firm that sells desserts in Houston, Texas

Carmela's Churros is a perfectly competitive firm that sells desserts in Houston, Texas

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Carmela's Churros is a perfectly competitive firm that sells desserts in Houston, Texas. Carmela's Churros currently is taking in $40,000 in revenues and has $15,000 in explicit costs and $25,000 in implicit costs. Holding all else constant, the price of churros in this market will:

a. Increase in the long run,

b. Decrease in the long run,

c. Increase in the short run,

d. Decrease in the short run,

e. Stay where it is.

Option 1

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