ECO 204 Week 3 DQ 1 Perfect Competition

July 6, 2015  |  By  | 

For more course tutorials visit Perfect Competition: A perfectly competitive industry is initially in a short-run equilibrium in which all firms are earning zero economic profits but are operating below their minimum efficient scale. Explain the long-run adjustments that will create equilibrium with firms operating at their minimum efficient scale. Why is a perfect competitive firm associated with efficiency for both consumers and businesses? Respond to at least two of your fellow students’ postings

More from F6EDBADBDC9

Page 1 / 3