In a perfectly competitive market for apples, what would happen in the short and long run to the market and individual producers if the price for...

Apples and pears are imperfect substitutes. As a result, an increase in the prices of pears will result in decreased demand for pears. This leads to an increased demand for apples. This increased demand will shift the demand curve for apples outward.

In the short run, this increased demand for apples will result in profits for apple producers because other firms will not have time to enter the market, so each firm already producing apples will...

Apples and pears are imperfect substitutes. As a result, an increase in the prices of pears will result in decreased demand for pears. This leads to an increased demand for apples. This increased demand will shift the demand curve for apples outward.

In the short run, this increased demand for apples will result in profits for apple producers because other firms will not have time to enter the market, so each firm already producing apples will be producing more apples than their break-even level.

As other potential producers see that profits are being made in apples, they will enter the industry, and in the long run the market will settle back into perfect competition where apple producers make no real economic profit.