Most if not all principle level microeconomics textbooks argue that perfectly competitive markets, firms earn a zro econ
Posted: Wed Apr 27, 2022 12:27 pm
Most if not all principle level microeconomics textbooks argue
that perfectly competitive markets, firms earn a zro economic
profit in the long-run. In the long-run, there are no fixed inputs,
so producer surplus equal profit. Can producer surplus be positive
in the long run in a perfectly competitive market? if so are
principle textbooks wrong? Explain
that perfectly competitive markets, firms earn a zro economic
profit in the long-run. In the long-run, there are no fixed inputs,
so producer surplus equal profit. Can producer surplus be positive
in the long run in a perfectly competitive market? if so are
principle textbooks wrong? Explain