Purely competitive market in long-run equilibrium

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You will be given diagrams for the market a representative seller in a purely competitive market in long-run equilibrium. Assuming an increase or decrease in demand in the short-run, be able to show graphically what will happen in the market in the long-run to market supply as firms enter or leave the market in response to short-run profits of losses respectively.

Reference no: EM131392328

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