In recent years, Vermont has seen an influx of newcomers to maple sugaring, many

Question

In recent years, Vermont has seen an influx of newcomers to maple sugaring, many spurred by higher prices and profits. And that's been matched by use of more sophisticated technology, experts say. In days gone by, the dairy farmers would often use dairy equipment as they tapped trees and produced syrup. Today, however, Stowe said maple farmers rely on advances in equipment - such as tubing, fittings and vacuum pumps - and advances in science such as improvements in the reverse osmosis process that make the entire operation more productive and efficient. Better prices have also helped. In 2007, a gallon of Vermont maple syrup cost an average of $35, according to Department of Agriculture statistics. Syrup from 2009, however, was selling for roughly $43 per gallon, according to a 2010 report by the federal agency. "We've seen a lot of expansion the last few years," Stowe said. "There are new people entering the business and the people already in the business are expanding." Question: What, according to the article, are some short-run events in the maple syrup industry and how have they affected the state of the industry in the long run? What do you expect to happen next?

Explanation / Answer

The short run events are higher prices and profits earns by existing firms. This Led to use of better technology, expansion of existing firms and entry of new firms. Thus supply will rise which will decrease price till ATC is tangent to demand curve. Please please like answer. 100% sure about answer

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