Documents LONG RUN A period of time over which the number of firms in an industry can change their production....

Slide 1LONG RUN A period of time over which the number of firms in an industry can change their production facilities. In the long run, firms can enter or leave an industry,…

Documents Perfect Competition Long Run Chapter 10-2. The Long Run The short run is a timeframe in which at...

Slide 1Perfect Competition Long Run Chapter 10-2 Slide 2 The Long Run The short run is a timeframe in which at least one of the resources used in production cannot be changed.…