Perfect Competition in the Long Run

00 20600 15000 54600 21 64300 22386 12400 57200 22

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Unformatted text preview: .00 546.00 21 643.00 223.86 124.00 572.00 22 772.00 245.82 98.00 Market and Individual Firm Supply, Supply Price, Average Cost and Demand Price - Size 15 Plant Q y* Supply Price - 26 Firms AC Demand Price 390.00 397.72 413.01 416.00 422.45 442.00 468.00 494.00 520.00 15 15.297059 15.885003 16 16.248077 17 18 19 20 175.00 202.00 257.00 268.00 292.00 367.00 472.00 583.00 700.00 175.00 175.26 177.26 177.88 179.43 186.06 199.00 216.26 237.50 280.00 272.28 256.99 254.00 247.55 228.00 202.00 176.00 150.00 Long-run Supply Curve in a Constant-cost Industry Long-run supply $ $ SRAC d S1 S2 SRMC LRAC pb e pa b£ pb pa LRMC b a c D2 D1 0 qa qb q Qa Qb Q Long-run Supply Curve in an Increasing-cost Industry Long-run supply $ S1 $ SRMC2 SRMC1 LRAC2 S2 LRAC1 pb b£ pb pc pa pc pa c a b D1 0 qa qb S3 q Qa Qc Qb D2 Q Long-run Supply Curve in a Decreasing-cost Industry $ S1 $ SRMC1 SRMC3 LRAC1 pb LRAC3 pb pa pc pa pc S3 b£ a c D1 0 qa q Qa Qc Long-run supply D2 Q...
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This note was uploaded on 01/03/2011 for the course COMM 290 taught by Professor Brian during the Winter '09 term at The University of British Columbia.

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