ECO 204 Week 3 DQ 1 Perfect Competition Click Here To Buy The Tutorial http://www.uoptutorial.com/index.php?route=product/product&path=483&product _id=7292 For more course tutorials visit www.uoptutorial.com
Perfect Competition: A perfectly competitive industry is initially in a short-run equilibrium in which all firms are earning zero economic profits but are operating below their minimum efficient scale. Explain the long-run adjustments that will create equilibrium with firms operating at their minimum efficient scale. Why is a perfect competitive firm associated with efficiency for both consumers and businesses? Respond to at least two of your fellow students’ postings