Long run and short run costs
I have difficulty in this question. Provide me correct solution of this to submit my assignment. What is the relationship among long run and short run costs?
The reduction in demand accompanies all of the following apart from: (i) Expectations of better accessibility or excesses. (ii) Declines in the price of substitute. (iii) Rises in the number of buyers. (iv) Negative modifications in preferences and ta
Expansion of the industry in increasing cost industries causes: (w) increases in each firm’s costs at every level of output. (x) decreases in each firm’s costs at every level of output. (y) all firms to suffer long-run economic losses. (z)
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Describe why the equilibrium price of commodity is determined at the level of output at which its demand equavalents its supply.
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