Economy, asked by ak4052243, 7 months ago

Explain the condition of short term and long term equilibrium of a firm under perfect competition

Answers

Answered by jhunsahu

0

Explanation:

(1) Marginal Cost-Marginal Revenue Analysis: During the short run, a firm will produce only if its price equals the average variable cost or is higher than the average variable cost (AVC). ... So during the short-run under perfect competition, a firm is in equilibrium in all the above noted situations.

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