Gandys Fruit and Vegetable Corner competes in a perfectly competitive market. They feel the going price of most of their fruit is just too low and decide to raise the prices. Describe this market in economic terms and describe what will happen to the quantity demanded for Gandys fruit. Now assume Gandy moved to another part of the country and was able to earn an economic profit. Describe what would happen in that overall market as a result. How, if at all, has Gandys situation changed as a result of the move? Please type your response in Word and upload it the dropbox. Your response should be 2-3 full paragraphs with attention paid to grammar as well as the content.
