曼昆经济学原理Chapter 14.pptVIP

Supply Curve Long run Firms can enter and exit the market If P ATC – firms make positive profit New firms enter the market If P ATC – firms make negative profit Firms exit the market Process of entry and exit ends when Firms in market make zero profit (P = ATC) Each firm produces at efficient scale (P= MC = ATC) Long run supply curve – perfectly elastic Horizontal at minimum ATC * ? 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on