In this article we will discuss about how to attain equilibrium of an industry under perfect competition. There is a large number of firms and group of all the firms is called an industry where all the firms are producing a single commodity. The equilibrium of an industry is that situation where there is no […]
How to Attain Equilibrium of an Industry? | Perfect Competition | Economics
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How to Attain Equilibrium of a Firm under Perfect Competition? | Economics
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In this article we will discuss about how to attain equilibrium of a firm under perfect competition. Equilibrium of a Firm under Perfect Competition: An individual firm is called in equilibrium when two conditions are met: (1) The change in output does not encourage the firm. (2) When the firm is earning maximum profit. There […]