What do you mean by Short-run period in equilibrium of firm?
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the run which can is very higly not very is than but not that ot short run are you know
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The short-run period in an equilibrium of a firm is the condition when the demand of output is equal to the amount of the supply of output.
What are the characteristics of short-run equilibrium?
- When the demand for output is more than the output produced then the price of the product increases
- With the increase in the price the producer produce more goods and services
- When the output supply is more than the demand of the output then the price of the product decreases
- When the price decreases then the demand for the product increases
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