How can you tell if the short run equilibrium is also the long run equilbrium?

  1. 👍 0
  2. 👎 0
  3. 👁 38
asked by Bernice

Respond to this Question

First Name

Your Response

Similar Questions

  1. micro economics

    1) Assume that the gold-mining industry is competitive. a) Illustrate a long-run equilibrium using diagrams for the gold market and for the a representative gold mine. b) Suppose that an increase in jewellery demand induces a a

    asked by Silvia on April 5, 2012
  2. Microeconomics

    A perfectly competitive industry has a large number of potential entrants. Each firm has an identical cost structure such that long run average cost is minimized at an output of 10 units (qi=10 ). The minimum average cost is R5

    asked by diegooooo on August 5, 2013
  3. Economics

    Goodday I would like to find out whether the following statements are true:  The equilibrium of the firm and the equilibrium of the industry are the same in the short run as well as the long run.  In the short run, the firm

    asked by Haseena on April 12, 2010
  4. economics

    This is going to be really long, but I want to see if my answers are correct. This is problem number 10.10 in my Intermediate Microeconomics book. A perfectly competitive painted necktie industry has a large number of potential

    asked by sleepy on November 14, 2007
  5. microeconomics

    The short-run cost curve for each firm's long run equilibrium output is C=y^2-20y+400. Calculate the short-run average and marginal cost curves. At what output level does short-run average cost reach a minimum? I already know the

    asked by Jill on April 5, 2010
  6. Macroeconomics

    (Monetary Policy and Aggregate Supply) Assume that the economy is initially in long-run equilibrium. Using an AD–AS diagram, illustrate and explain the short-run and long-run impacts of an increase in the money supply.

    asked by Mike on June 15, 2013
  7. economics

    In long-run equilibrium, the perfectly competitive firm's price is equal to which of the following: short-run marginal cost minimum short-run average total cost marginal revenue all the above I think that it is all the above. Am I

    asked by Jake on December 8, 2006
  8. Economics

    A long-run supply curve is flatter than a short-run supply curve because A. firms can enter and exit a market more easily in the long run than in the short run. B. long-run supply curves are sometimes downward sloping. C.

    asked by Bob on November 29, 2011
  9. Economics

    1. Using AD/AS, describe the short-run and long-run effects of an increase in the money supply on the equilibrium level of production and the price level. Be sure to explain what happens to Total Expenditures (using the 3 effects

    asked by Douglas Walker on December 7, 2011
  10. Microeconomics help please (urgent)

    True or False? Explain your reasoning. a. The short-run average total cost can never be less than the long-run average total cost. b. The short-run average variable cost can never be less than the long-run average total cost. c.

    asked by David on October 22, 2008

More Similar Questions