Production Analysis [Unit: 4.13]

Comprehensive Discussion on a Perfectly Competitive Firm’s Short-run and Long-run Production Equilibrium (Profit) Diagrams A Perfectly Competitive Market’s Profit Behaviour (Long-run) A Perfectly Competitive Firm’s Producer Surplus (Alternative Methods) A Perfectly Competitive Firm’s Long-run Equilibrium with Normal Profits and Economic Efficiency Limitations (Demerits/Drawbacks) of the Perfect Competition Market Structures