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The long run is a period of time which is sufficiently long to allow the firms to make changes in all factors of production. Over the long run if firms in a perfectly competitive market are earning positive economic profits more firms will enter the market which will shift the supply curve to the …

A firm maximises profit at q1 where mc mr. Diagram of perfect competition. Diagram Of Perfect Competition Economics Help Ac and the profit graphs to find the point at which the firm maximizes profit. Perfectly competitive market graph profit . In the short term it is possible for economic profi…

Their demand curve is perfectly elastic. The market graph is a standard supply and demand graph with an equilibrium price and quantity. Independent Trucking Is An Industry That Can Be Considered As mentioned above the perfect competition model if interpreted as applying also to short period or …