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Understanding Short-Run and Long-Run Competitive Equilibrium for Greebes

Explore cost situations for each firm in the market for Greebes, analyzing supply, demand, and equilibrium. Figure 29. Discover the interaction between MC, ATC, AVC, and quantity levels.

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Understanding Short-Run and Long-Run Competitive Equilibrium for Greebes

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  1. Activity 29 Intro to the long run P=ATC min

  2. Short-Run and Long-Run Competitive Equilibrium cost situation for each FIRM MARKET Supply and Demand for Greebes 1.75 1.50 1.25 1.00 .75 .50 .25 1 2 3 4 5 6 7 8 9 1 2 3 4 5 6 7 8 9 QUANTITY thousands of Greebes per week QUANTITY millions of Greebes per week

  3. Short-Run and Long-Run Competitive Equilibrium (fig. 29.1) cost situation for each FIRM MARKET Supply and Demand for Greebes 1.75 1.50 MC 1.25 ATC 1.00 .75 AVC D .50 .25 1 2 3 4 5 6 7 8 9 1 2 3 4 5 6 7 8 9 QUANTITY thousands of Greebes per week QUANTITY millions of Greebes per week

  4. Short-Run and Long-Run Competitive Equilibrium (fig. 29.1) cost situation for each FIRM MARKET Supply and Demand for Greebes 1.75 S 1.50 MC 1.25 ATC 1.00 .75 AVC D .50 .25 1 2 3 4 5 6 7 8 9 1 2 3 4 5 6 7 8 9 QUANTITY thousands of Greebes per week QUANTITY millions of Greebes per week

  5. Short-Run and Long-Run Competitive Equilibrium (fig. 29.1) cost situation for each FIRM MARKET Supply and Demand for Greebes 1.75 S 1.50 MC 1.25 ATC 1.00 S1 .75 AVC D .50 .25 1 2 3 4 5 6 7 8 9 1 2 3 4 5 6 7 8 9 QUANTITY thousands of Greebes per week QUANTITY millions of Greebes per week

  6. Short-Run and Long-Run Competitive Equilibrium (fig. 29.2) cost situation for each FIRM MARKET Supply and Demand for Greebes 1.75 1.50 MC 1.25 ATC 1.00 .75 AVC .50 .25 D 1 2 3 4 5 6 7 8 9 1 2 3 4 5 6 7 8 9 QUANTITY thousands of Greebes per week QUANTITY millions of Greebes per week

  7. Short-Run and Long-Run Competitive Equilibrium (fig. 29.2) cost situation for each FIRM MARKET Supply and Demand for Greebes 1.75 S 1.50 MC 1.25 ATC 1.00 .75 AVC .50 .25 D 1 2 3 4 5 6 7 8 9 1 2 3 4 5 6 7 8 9 QUANTITY thousands of Greebes per week QUANTITY millions of Greebes per week

  8. Short-Run and Long-Run Competitive Equilibrium (fig. 29.2) cost situation for each FIRM MARKET Supply and Demand for Greebes 1.75 S1 S 1.50 MC 1.25 ATC 1.00 .75 AVC .50 .25 D 1 2 3 4 5 6 7 8 9 1 2 3 4 5 6 7 8 9 QUANTITY thousands of Greebes per week QUANTITY millions of Greebes per week

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