brownox527Lv1
30 Nov 2021
Problem 8
Page 211
Section SELF: CHECK QUESTIONS
Chapter 8: Perfect Competition
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30 Nov 2021
Introduction
Labor Unions- It refers to a group or an organization of people who have come together to achieve common goals such as increase or decrease in wages, better work condition, leisure time and other things related to employment.
Long run equilibrium-It refers to that period of time where the firms in a perfectly competitive market will only survive if it is able to make profits while satisfying the condition of marginal cost being equal to marginal revenue.
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