In a perfectly competitive market, how do we go from a short run equilibrium to a long run equilibrium?

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter8: Perfect Competition
Section: Chapter Questions
Problem 7SCQ: If new technology in a perfectly competitive market brings about a substantial reduction in costs of...
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In a perfectly competitive market, how do we go
from a short run equilibrium to a long run
equilibrium?
Transcribed Image Text:In a perfectly competitive market, how do we go from a short run equilibrium to a long run equilibrium?
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