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Title: With identical firms, constant input prices, and all the other characteristics of a competitive market Post by: avbatb on Mar 11, 2021 With identical firms, constant input prices, and all the other characteristics of a competitive market
▸ the long run equilibrium price is the minimum of the average cost curve. ▸ a shift in demand will change the equilibrium price and quantity. ▸ the long run and short run equilibria are identical. ▸ Both the long run equilibrium price is the minimum of the average cost curve and a shift in demand will change the equilibrium price and quantity. Title: With identical firms, constant input prices, and all the other characteristics of a competitive market Post by: dfm1996 on Mar 11, 2021 Content hidden
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