Question
In a perfectly competitive industry with identical firms, which of the below will the long run optimal decision for a firm depend on if each
In a perfectly competitive industry with identical firms, which of the below will the long run
optimal decision for a firm depend on if each firm is earning negative profits in the short run?
(Assume VC does not change in the long run)
I. The demand curve
II. Short run fix cost
III. Short run variable cost
IV. Long run fix costs
V. The optimal output in the short run
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An Inquiry Into The Nature And Causes Of The Wealth Of Nations
Authors: Adam Smith, R H Campbell
1st Edition
0865970068, 9780865970069
