How to understand equilibrium of the firm in the short run and long run (perfect competition) - Quora
![Long-run Equilibrium in the AD-AS Model | Long-run Macroeconomic Equilibrium | The AD-AS Model - YouTube Long-run Equilibrium in the AD-AS Model | Long-run Macroeconomic Equilibrium | The AD-AS Model - YouTube](https://i.ytimg.com/vi/tZD379UXEpw/maxresdefault.jpg)
Long-run Equilibrium in the AD-AS Model | Long-run Macroeconomic Equilibrium | The AD-AS Model - YouTube
![Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ______gap in the short run and ____inflation and ____output in the long run. Question 13 options: A)exp Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ______gap in the short run and ____inflation and ____output in the long run. Question 13 options: A)exp](https://homework.study.com/cimages/multimages/16/screen_shot_2019-03-22_at_3.07.16_am7862219670126394529.png)
Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ______gap in the short run and ____inflation and ____output in the long run. Question 13 options: A)exp
![Draw the short-run and long-run cost curves for a competitive firm in long-run equilibrium. Indicate the long-run equilibrium price and quantity. a. Discuss the firm's short-run response to a reduction in the Draw the short-run and long-run cost curves for a competitive firm in long-run equilibrium. Indicate the long-run equilibrium price and quantity. a. Discuss the firm's short-run response to a reduction in the](https://homework.study.com/cimages/multimages/16/mc_mrrr2307688309515194341.jpeg)