Respuesta :
Assuming the market for office paper is perfectly competitive, the long-run market price will increase by expanding the output level to be maximum in the office paper market.
How does the price in a perfect market change over time?
Businesses in fully competitive industries make normal profits, and each business seeks to increase its profit by achieving the highest possible level of output at which marginal cost (MC) equals marginal revenue (MR) (MR). A commodity's total supply and demand are equal in an economy in equilibrium.
In the long run, prices will adapt to fully reflect changes in production costs. In the short run, a change in fixed costs will have no impact on the price or output. Long-term entry or exit will cause prices to shift enough that enterprises will no longer make any economic profit.
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