In a short-run equilibrium, one or more variables—typically something that takes more time to adjust—is exogenous (held constant).

Well, a long-run equilibrium means that everything that can change has changed. In other words, the current output is the same as the full employment output ...

Продолжительность: 10:11
Опубликовано: 17 мар. 2018 г.

The long-run is a theoretical concept in which all markets are in equilibrium, and all prices and quantities have fully adjusted and are in equilibrium. Long run · Short run · Transition from short run to...

So, the main difference lies in that short-run equilibrium addresses immediate market conditions while long-run equilibrium is more concerned with future ...

Short and Long Run Equilibrium. In the short run a firm in monopolistic competition can make a profit or a loss, but in the long run they will make zero profit.

Продолжительность: 10:11
Опубликовано: 23 февр. 2018 г.

In macroeconomics, we seek to understand two types of equilibria, one corresponding to the short run and the other corresponding to the long run. The short run ...

In the short run a firm in monopolistic competition can make a profit or a loss, but in the long run they will make zero profit.