1 of sellers of buyers2 entry and exit conditions3, Ask an Expert

Economics

1. # of sellers, # of buyers

2. entry and exit conditions

3. product characteristics

4. short run P&Q determinations and the resulting 3 possibilities for excess profit (graphs are required)

5. which one of the above depicted SR (PIE) possibilities is the most typical in the LR? why?

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Macroeconomics, Economics

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