-If the Firm Were a Perfect Competitor in the Long

question 59

Short Answer

-If the firm were a perfect competitor in the long run,how much would its price be?

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Definitions:

Parasympathetic Nervous

Part of the autonomic nervous system responsible for relaxation and conservation of energy by slowing the heart rate and increasing intestinal and gland activity.

Autonomic Nervous System

The Autonomic Nervous System is a part of the peripheral nervous system responsible for regulating involuntary body functions, such as heart rate, digestion, and respiratory rate.

Peripheral Nervous System

The peripheral nervous system consists of all the nerves that lie outside the brain and spinal cord, responsible for transmitting sensory information to the central nervous system and carrying out motor commands.

Somatic Nervous System

A part of the peripheral nervous system associated with the voluntary control of body movements via skeletal muscles.