Clarify the short-run adjustment course of for the trade | Microeconomics
aperfectly aggressive agency and trade in long-run equilibrium.
A. How have you learnt that the trade is in future equilibrium?
B. Suppose that there’s a rise in demand for this product. Present and clarify the short-run adjustment course of for each the agency and the trade.
C. Present and clarify the long-run adjustment course of for each the agency and the trade. What’s going to occur to the variety of companies within the new long-run equilibrium?