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Author Question: If a perfectly competitive market is in a short-run equilibrium and each firm hasP>SRATC, then (Read 86 times)

Deej

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on: Oct 12, 2022
If a perfectly competitive market is in a short-run equilibrium and each firm has P > SRATC, then
◦ existing firms will continue to earn economic profits in the long run.
◦ new firms will enter the market because existing firms are earning economic profits.
◦ individual firms in the industry will increase their output.
◦ price will fall in the short run as it is too high and firms are making economic profits.
◦ the market supply curve will become less elastic.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by Deej on Oct 12, 2022

ludadtpb

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Deej

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

deja

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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