Is this industry in the short run or long-run equilibrium? If it is not in the long-run

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Is this industry in the short run or long-run equilibrium? If it is not in the long-run equilibrium, what will need to happen in this industry to achieve the long-run equilibrium? (2 marks)

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Microeconomics

ISBN: 9781464146978

1st Edition

Authors: Austan Goolsbee, Steven Levitt, Chad Syverson

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Posted Date: Feb 15, 2024 04:48 AM

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Is this industry in the short run or long-run equilibrium? If it is not in the long-run

Question:

Price and cost $40.50 36.00 30.00 22.00 20.00 0 130 180 MC ATC 240 AVC MR Quantity Price and cost $40.50 36.00 30.00 22.00 20.00 0 130 180 MC ATC 240 AVC MR Quantity

Expert Answer:

Based on the information provided in the graphthe industry is not in longrun equilibriumHeres why Sh... View the full answer

Microeconomics

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