Economy, asked by nemneithemhaokip26, 1 day ago

discuss the equilibrium of the firm in the factor market under perfect competition.

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Answered by alamafsar1981

1

Answer:

Equilibrium in perfect competition is the point where market demands will be equal to market supply. A firm's price will be determined at this point. In the short run, equilibrium will be affected by demand. In the long run, both demand and supply of a product will affect the equilibrium in perfect competition.

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