Condition for long-run equilibrium

Which of the given is NOT a condition for long-run equilibrium into a purely competitive market: (w) P = MC (x) MR = MC (y) P = LRAC (z) TFC = TC

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

View Complete Question

Related Questions in Microeconomics

Q : Increasing supply problem Whenever the

Whenever the equilibrium in the figure shown move from point a to point b, raised supply has taken only in the market illustrated in: (i) Panel A. (ii) Panel B. (iii) Panel C. (iv) Panel D.

Q : Perfect mobility and perfect information

The model of perfect competition assumes perfect mobility and perfect information. Transaction costs are not present; therefore all buyers and sellers base decisions on the best information obtainable to anyone else, as well as transportation (mobilit

Q : Find linear demand curve by quantity

Along this illustrated linear demand curve, there is: (1) inelastic portion is range a. (2) elastic portion is range b. (3) midpoint is unitarily price elastic. (4) elasticity is constant in each and every ranges. (5) midpoint elasticity becomes infin

Q : Long-run equilibrium price paid Pure

Pure competitors in a long-run equilibrium are paid a price which: (i) allows recovery of any previous operating losses. (ii) equals MC although exceeds average cost. (iii) maximizes average revenue minus average cost. (iv) equals maximum long run ave

Q : Positively sloped supply curve of a

Can someone please help me in finding out the accurate answer from the following question. According to most conventional theories of labor market: (1) The supply curve of labor is positively sloped as higher salaries attract the extra workers to the labor market. (2)

Q : What is indifference curve Indifference

Indifference curve: It demonstrates various combinations of two goods that provide identical level of satisfaction to the consumer.

Q : Supply of labor curve problem Can

Can someone please help me in finding out the accurate answer from the following question. Employer with the monopsony power which as well had the ability to wage discriminate perfectly would tackle a marginal factor cost of labor

Q : Substitution Effect-relative price of

The substitution effect signifies to the change in consumption pattern as: (1) The absolute price of the good modifications. (2) Income changes. (3) The relative price of good changes. (4) The quality of good changes. Can someone p

Q : Elucidate the merits of mixed economy

Elucidate the merits of mixed economy system?

Q : Problem on income and substitution

Jim a vegetarian. All he eats is lettuce and cheese. His original budget constraint and utility maximizing bundle are illustrated in the graph shown below: 1531</span></p>
</div>

</li>

</td>
</tr>
</table>

</ul>

</div>
</div>
<div class=

Discover Q & A

Leading Solution Library

Avail More Than 1456991 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1937177
Asked

3,689

Active Tutors

1456991

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment