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Lecture Microeconomics (20/e): Chapter 11 - Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn

Chapter 11 - Pure competition in the long run. After studying this chapter, you should be able to: Explain how the long run differs from the short run in pure competition; describe how profits and losses drive the long-run adjustment process of pure competition; explain the differences between constant-cost, increasing-cost, and decreasing-cost industries; show how long-run equilibrium in pure competition produces an efficient allocation of resources; discuss creative destruction and the profit incentives for innovation.

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Pure competition, Long run supply curves

12 p tailieu_hce 28/04/2016 138 2

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