Posted: June 24th, 2018

Explain the short-run adjustment process for the industry | Microeconomics

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?

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