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Author Question: The following diagram shows a perfectly competitive industry and firm. Initial supernormal profits ... (Read 110 times)

bio_gurl

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Question 1

The following diagram shows a perfectly competitive industry and firm.


The position shown is NOT a long-run equilibrium because
MC > AC.
D = AR.
AR = MR.
AR > AC at Qe.

Question 2

The following diagram shows a perfectly competitive industry and firm. Initial supernormal profits have attracted new firms into the industry.

 
QL represents long-run equilibrium output of the firm because
P1 > PL.
LRAC = ARL.
Se > S1.
D1 > DL.


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Marked as best answer by bio_gurl on May 25, 2020

ASDFGJLO

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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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bio_gurl

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Reply 2 on: May 25, 2020
Thanks for the timely response, appreciate it


daiying98

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Reply 3 on: Yesterday
:D TYSM

 

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