The firm will be in equilibrium at 5 units of output as at this level of output both the conditions of firm’s equilibrium are satisfied, i.e. Ques 5 The market for a commodity is in equilibrium. The ...
Green, Jerry R. "Pre-existing Contracts and Temporary General Equilibrium." In Essays on Economic Behavior Under Uncertainty, edited by M. Balch, D. McFadden, and S. Wu. Amsterdam: North-Holland ...