7. Penny's Farm grows peaches and operates in a constant-cost, perfectly competitive peach industry. Penny's Farm is currently in long-run equilibrium.
a. Draw correctly labeled side-by-side graphs for the peach market and Penny's
Farm, and show each of the following:
i. Market output and price, labeled as Qm and PM, respectively
ii. Penny's Farm output and price, labeled as Q and Ps, respectively
b. Assume the demand for peaches increases. On your graphs in part (a) show what
will happen to each of the following in the short run.
i. Market output and price, labeled as Q. and P , respectively
ii. The area of profit or loss earned by Penny's Farm, shaded completely.
c. Relative to your answer in part (b), state what will happen to the market
equilibrium price and quantity of peaches in the long run. Explain.

the correct answer is ) possibility.

demonstrating opportunity cost is done through production possibility.

the opportunity cost can be demonstrated using the production possibility frontier or curve. this graphic shows the total number of possibilities for two products when we have the resources needed and used in an efficient manner. the main resources could be money, labor, and technology. the curve shows that the production of one good increases when the production of the othe

the answer is the petition of right.

explanation:

offer to of right, real demand of attesting a benefit against the english crown, the most remarkable point of reference being the petition of right of 1628, which parliament sent to charles i fussing of a movement of oversteps of law. the term also implied the framework (invalidated in 1947) by which a subject could sue the crown.   taking a gander at the frameworks used by maria amidu to make a standard in 2015 commending the 1628 petition of right, which was sent to charles i by the english parliament. at uniquely based law the crown, or the sovereign in his official cutoff, couldn't be sued in the ruler's courts. since the ruler was, really, the superior ace of those courts, coordinating value in them between his subjects, he was not subject to their ward. therefore it transformed into a preparation, at whatever point a subject's certified or individual property had come into the responsibility for ruler or his specialists without legitimate perfect, for the subject to engage the master in chamber for its recovery.

answer; face validity;