The Equilibrium of Firm is in which of the following periods?
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A firm is in equilibrium in the short-run when it has no tendency to expand or contract its output and wants to earn maximum profit or to incur minimum losses. The short-run is a period of time in which the firm can vary its output by changing the variable factors of production. The number of firms in the industry is fixed because neither the existing firms can leave nor new firms can enter it.
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A firm is in equilibrium in the short-run when it has no tendency to expand or contract its output and wants to earn maximum profit or to incur minimum losses. The short-run is a period of time in which the firm can vary its output by changing the variable factors of production.
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