Long-Run in Perfect Competition

Concepts

• Allocative Efficiency (P = MC)
• Increasing-Cost Industry
• Constant-Cost Industry
• Self-Correction (Adjusting to a Long-Run Equilibrium)
• Movement of Firms
• Long-Run Equilibrium

Overview

Coming Soon

Materials

• Lecture Notes
• Practice Problems

Lecture

Long-Run Adjustment in Perfect Competition Video

 

Constant-Cost Industry in Perfect Competition Video

 

Increasing-Cost Industry in Perfect Competition Video

 

Efficiency in Perfect Competition Video

 

Long-Run in Perfect Competition Video Lecture

 

Quiz

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