Describe what happens in the short run and in the long run to a perfectly competitive firm when new lower cost technologies are introduced. (Assume that this lower technology costs are equivalent to a reduction in fixed costs).

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Describe what happens in the short run and in the long run to a perfectly competitive firm when new lower cost technologies are introduced. (Assume that this lower technology costs are equivalent to a reduction in fixed costs).

Microeconomics

Microeconomics

Part a) Describe what happens in the short run and in the long run to a perfectly competitive firm when new lower cost technologies are introduced. (Assume that this lower technology costs are equivalent to a reduction in fixed costs). Part B) In the long run the degree of competition in a market does not matter because technological progress reduces production costs so that consumers always benefit. To what extent do you agree/disagree?

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Title: Describe what happens in the short run and in the long run to a perfectly competitive firm when new lower cost technologies are introduced. (Assume that this lower technology costs are equivalent to a reduction in fixed costs).
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Post Date: 2018-11-12T07:59:00+00:00
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Describe what happens in the short run and in the long run to a perfectly competitive firm when new lower cost technologies are introduced. (Assume that this lower technology costs are equivalent to a reduction in fixed costs).

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