if there were 10 firms in this market, the short-run equilibrium price of ruthenium would be $ per pound. at that price, firms in this industry would . therefore, in the long run, firms would the ruthenium market.

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16-12-2022
Business

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if there were 10 firms in this market, the short-run equilibrium price of ruthenium would be $ per pound. at that price, firms in this industry would . therefore, in the long run, firms would the ruthenium market.

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ShubhamSrivastava ShubhamSrivastava · Answer 1 · 2022-12-23T08:04:47+01:00

If there were 10 firms in this market, the short-run equilibrium price of ruthenium would be $ per pound. at that price, firms in this industry would . therefore, in the long run, $52, earn a profit, & enter.

What do you mean by short-run equilibrium price?

When the total amount of output required and supplied equals one another, an economy is in short-run equilibrium. Finding the point where AD meets SRAS will allow you to determine the short-run equilibrium in the AD-AS model. The equilibrium is made up of the equilibrium output and the equilibrium price level. Thinking of the short-run equilibrium as "how much real GDP is this economy making right now, and what is an economy's current CPI" is a good approach.According to our analysis of markets, when an economy is out of equilibrium, prices change until the market reaches equilibrium. A short-run macroeconomic equilibrium follows the same general principle, but with a slight change.

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