1 Chapter 13 MODELS OF MONOPOLY Copyright ©2005 by South-Western, a division of Thomson Learning. All rights reserved.
LONG RUN A period of time over which the number of firms in an industry can change their production facilities. In the long run, firms can enter or leave.
Perfect Competition Long Run Chapter 10-2. The Long Run The short run is a timeframe in which at least one of the resources used in production cannot.
Chapters (10 &11) Perfect Competition (10) Monopoly (11)
18299_Introduction to Market Structures
