Re: JNU 2006-2002 Doubts

Posted by Homer Simpson on May 07, 2014; 11:54am
URL: http://discussion-forum.276.s1.nabble.com/JNU-2006-2002-Doubts-tp7588757p7588814.html

@Anjali - Long run competitive supply curve is determined by the cost structure of the industry rather than simply summing up the outputs supplied by firms at particular prices. This is when all inputs are variable as well - plant size can vary now. So we could have constant, increasing or decreasing cost industries.

and yes, natural growth rate is 3, wrote 5 by mistake