I have problems with deciding whether those statements are true or false.
- In a short/long run price of equilibrium on a perfectly compettive market might be either lower or higher then average total cost of one company operating on this market.
- In a short run total amount of companies in perfectly competitive branch of industry, changes when their economic gains are equal to zero.
Appreciate your help with some further comments about that.
PS. anticipating your questions i am preparing to an exam, that is why i am looking for an answer to those questions.