Short run and long run equilibrium under monopolistic competition
Answers
Answered by
2
in short run firm can achieve Super normal profit
normal profit
and minimum loss
(Super Normal Profit )
TR > TC
AR > AC
(Normal profit)
TR = TC
AR = AC
(Minimum Loss)
TR < TC
AR < AC
and in long run monopolistic competition firm can only achieve "Normal Profit"
TR = TC
AR = AC
normal profit
and minimum loss
(Super Normal Profit )
TR > TC
AR > AC
(Normal profit)
TR = TC
AR = AC
(Minimum Loss)
TR < TC
AR < AC
and in long run monopolistic competition firm can only achieve "Normal Profit"
TR = TC
AR = AC
Similar questions