Perfectly elastic supply problem
When will a rise in demand entail an increase in the quantity demanded however no change in the price?
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In case of perfectly elastic supply, the increase in demand causes no change in price however it will lead to a rise in quantity.
TR (total revenue) for this profit-maximizing pure competitor equivalents area: (i) 0PeQ. (ii) bPec. (iii) aPed. (iv) 0bcQ. (v) 0Pec. Q : Fixed cost in long run Can there be Can there be certain fixed cost in long run? If not why? Answer: No, there can’t be any fixed cost in long run. The main reason is that there is no fixed inpu
Can there be certain fixed cost in long run? If not why? Answer: No, there can’t be any fixed cost in long run. The main reason is that there is no fixed inpu
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