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Bring out the essential difference between the nature of equilibrium of a firm under perfect competition in the short-run and the long-run. - Economics

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प्रश्न

Bring out the essential difference between the nature of equilibrium of a firm under perfect competition in the short-run and the long-run.

अति संक्षिप्त उत्तर
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उत्तर

The essential difference is found in the profits earned, specifically, normal earnings in the long run compared to abnormal profits or losses, or normal profits in the short run.

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अध्याय 11: Determination of Equilibrium Price and Output Under Perfect Competition - TEST YOURSELF QUESTIONS [पृष्ठ २००]

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फ्रैंक Economics [English] Class 12 ISC
अध्याय 11 Determination of Equilibrium Price and Output Under Perfect Competition
TEST YOURSELF QUESTIONS | Q 1. | पृष्ठ २००
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