Question: HI 1. Can you please also explain the long run decisions/adjustments that occur in a perfectly competitive industry if you don't mind. 2. Can you

HI

1. Can you please also explain the long run decisions/adjustments that occur in a perfectly competitive industry if you don't mind.

2. Can you please explain what happens to industry supply and price if market demand remains constant in the long run.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q:

Campar Industries, Inc., was a multidivisional firm whose several divisions competed in different countries. This case deals with variance analysis problems in several of the divisions. ALPHA...

Q:

HI 1. Can you please explain the long run decisions/adjustments that occur in a perfectly competitive industry if you don't mind. 2. Can you please explain what happens to industry supply and price...

Q:

*- 'nll-' uni-I'v- 'p---uI--'II Reread pp. 247253 in the Browning and Zupan reading on long run supply and m Consider a highly competitive market where the firms all face the same costs. They start...

Q:

Explain why some business owners find profitable to operate a business without improving or fixing the facility.Give and example of such business, and explain the rationale behind the business...

Q:

Someone plz help with these!! a/sI/zu Notable 85 Quotable: Gouging .From Brandon Fuller's interview With Par/I Romer, University Profes sorrzt New York University and co- recrpient oftlze 2018 Nobel...

Q:

Finance CougFresh is an American retailer located in Pullman, WA. The company president is John Smith, who inherited the company. When the company was founded over 30 years ago, it originally focuses...

Q:

The company's CEO, Paul, wants to understand the risk of the game industry better. Since CougCare's main competitor Hasbro. Inc (HAS), is a leading company in this industry, Paul asks you to perform...

Q:

Joy Toys is a midsized Toy manufacturer located in Manhattan, New York. The company president is George, who inherited the company. When it was founded over 50 years ago, the company originally was a...

Q:

GoodCoffee is a coffee product retailer and manufacturer located in Irvine, CA. The company president is Josh Ryan, who inherited the company. When the company was founded over 50 years ago, it...

Q:

Someone plz help!!!!! III. (1 1 points) Please read the article reprinted below titled "Notable & Quotable: Gouging" written shortly after the onset of the Covid pandemic (March 31, 2020) and answer...

Q:

someone plz help with this!!!! III. (11 points) Please read the article reprinted below titled Notable \& Quotable: Gouging" written shortly after the onset of the Covid pandemic (Mareh 31, 2020) and...

Q:

When should you write a business plan? When might it not be necessary or even advisable to write a plan?

Q:

3 x 3 y = 2 y - 7 Simplify your answer.

Q:

Based on the information contained in these financial statements (For Amazon use values for December 31, 2016 and for Wal-Mart use values for January 31, 2017.), determine the following values for...

Q:

The following information was taken from the accounting records of Tech Inc. for the financial year 2019. The number of units of widgets produced is 2000. R&D, marketing and customer service expenses...

Q:

Identify and describe one cause or trigger of a positive emotional state and one cause or trigger of a negative emotional state at work. How can you use the awareness of these triggers to control...

Q:

Analyze the effects of the following events on the accounting equation of the proprietorship of Angela Peters, attorney Complete the formal balance sheet and income statement for Angela Peters...

Q:

BOSS LTD is an owner-managed machinery manufacturer that specializes in producing small electric utility tractors for commercial use in London. England. Jack Boss the sole shareholder, started the...

Q:

Among a group of 5 8 programmers, who know either Java or Python or both, 1 5 only know Java and 1 3 only know Python. What is the probability of randomly choosing a programmer who knows both...

Q:

3. Imagine a communication situation at work or at home where you felt that you were locked (inflexible). Reflect on three alternative strategies that could have led to you becoming more flexible,...

Q:

4. In the next communication situation you are in, already think through three different communication strategies, which will make you achieve greater flexibility. Then practice on these as soon as...

Q:

2. Now imagine a real situation in your workplace or home situation where someone gives you feedback. a. Did you perceive the feedback as a hidden criticism? b. Did you perceive the feedback as a...