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![College Economics] Explaining Profit Maximization for a firm in Imperfect Competition: Could someone explain this concept to me in the context of the short run cost curve and long run cost curve? :](https://preview.redd.it/college-economics-explaining-profit-maximization-for-a-firm-v0-rdpib4mkze2a1.png?width=513&format=png&auto=webp&s=f5df662a7fa22484f1876c301202669a47417e2d "College Economics] Explaining Profit Maximization for a firm in Imperfect Competition: Could someone explain this concept to me in the context of the short run cost curve and long run cost curve? :")
College Economics] Explaining Profit Maximization for a firm in Imperfect Competition: Could someone explain this concept to me in the context of the short run cost curve and long run cost curve? :
A firm in perfect competition may generate supernormal profit or incur losses in short run but it will always land up making normal profits in the long run. Do you agree? If
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Monopolistic Competition: Short-Run Profits and Losses, and Long-Run Equilibrium
