Solved: The long-run equality of price and minimum average total, Macroeconomics

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The long-run equality of price and minimum average total

The long-run equality of price and minimum average total cost means that competitive firms will use the most efficient know technology and charge the lowest price consistent with their production cost. That is, the firm will achieve productive efficiency.

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Macroeconomics: The long-run equality of price and minimum average total

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Solution Preview :

Prepared by a verified Expert

Macroeconomics: The long-run equality of price and minimum average total

Reference No:- TGS0668172

Have a Question? (oR Write a Review)

Recent Questions Asked Macroeconomics

Q : You want to retire in 30 years you deposit 20000 in the

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Solution Preview :

Prepared by a verified Expert

Macroeconomics: The long-run equality of price and minimum average total

Reference No:- TGS0668172

Recent Questions Asked Macroeconomics

Q : You want to retire in 30 years you deposit 20000 in the

Q : Sppose that the economy starts at equilibrium and the mpc

Q : Construction costs incurred during the first year were 12

Q : A straight wire segment 4 m long makes an angle of 30deg

Q : The long-run equality of price and minimum average total

Q : A farmer throws a sack of wheat vertically downward with an

Q : Orange inc sells a learnit-plus software package that

Q : We often find that for thesuper bowl the quantity of

Q : A car owner forgets to turn off the headlights of his car

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