Economy, asked by yashvendrabsingh12, 5 months ago

explain the short run and long run equilibrium under perfect market?​

Answers

Answered by aanyas477
0

Explanation:

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.

Answered by anjichandan14
0

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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