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CBSE Class 12-commerce Answered

Consumer equilibriam In Short run production???
Asked by heartlesskhushi226 | 17 Jan, 2019, 09:18: PM
answered-by-expert Expert Answer

The time period in which a firm makes changes in its production by changing only its variable factors but not its fixed factors is termed as short run i.e. one factor is fixed, rest all are variable.

The equilibrium price is equal to the marginal cost in the short run. This will restrict the firm to sell additional unit at the price level which is equal to marginal cost.

Answered by Tharageswari S | 18 Jan, 2019, 10:27: AM
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