Find detailed and accurate answers to your questions on IDNLearn.com. Our platform is designed to provide reliable and thorough answers to all your questions, no matter the topic.
An important difference between the situation faced by a profit-maximizing competitive price-searcher firm in the short run and the situation faced by that same firm in the long run is that in the short run,
price may exceed marginal revenue, but in the long run, price will equal marginal revenue.
price may exceed marginal cost, but in the long run, price will equal marginal cost.
price may exceed average total cost, but in the long run, price will equal average total cost.
there are many firms in the market, but in the long run, there are only a few firms in the market.
Sagot :
We value your participation in this forum. Keep exploring, asking questions, and sharing your insights with the community. Together, we can find the best solutions. IDNLearn.com is committed to your satisfaction. Thank you for visiting, and see you next time for more helpful answers.
