Behavior of firms and markets in the short run and in the long run Microeconomics Perfect competition Behavior of firms and markets in the short run and in the long run Questions How does the shutdown decision affect markets and firms in a long-term time frame? How does the shutdown decision affect markets and firms in a short-term time frame? Perfect competition View all chapters Profit maximization Short-run supply and shutdown decision Behavior of firms and markets in the short run and in the long run Efficiency and perfect competition Prev Next