Draw a Perfectly Competitive,profit-Maximizing Firm in Long-Run Equilibrium

question 131

Essay

Draw a perfectly competitive,profit-maximizing firm in long-run equilibrium.Be sure to include the marginal revenue curve,the marginal cost curve,the average total cost curve,and the average variable cost curve.

---

Definitions:

Pessimistic

Having a tendency to see the worst aspect of things or believe that the worst will happen.

Gantt Charts

Gantt charts are visual project management tools used to schedule tasks within a project, showing start and end dates, as well as dependencies between tasks.

Flow Charts

Diagrams that depict the sequence of steps in a process, showing how tasks are interconnected and flow from one to the next.

Top-management Commitment

The dedication and involvement of an organization's highest-ranking officers in supporting and driving a project or strategy.