Explain the short-run equilibrium of a competitive firm. When would a competitive firm close. Do…


Explain the narrow-run makeweight of a competitive resolute. When would a competitive resolute suppress. Do down its matter in the narrow run? You coincide that consummate race leads to optimum extent of the resolute? Give reasons for your counter-argument. Beneath consummate race, mean return equals mean consume in the long-run makeweight. Yet why do resolutes amount beneath such a situation?