Explain why the equilibria found in part (a) are only short-run equilibria. What will happen to the industry in the long run? Describe the long-run equilibrium in detail.
Micro Economics Fill in the following table assuming computers are a fixed input that costs $30 per unit to rent and labor is a variable input that costs $12 per unit: Computers Labor Q APL MPL FC VC Cost MC AFC AVC AC 10 0 0 10 1 200 10 2 300 10 3 200 […]