Production and consumption: The long run

6.2 The producer in the long run

Activity

Principles of Microeconomics: "Chapter 8, Section 2: Production Choices and Costs: The Long Run"

• Read this section to learn about the behavior of the producer in the long run. Take a moment to read through the stated learning outcomes for this chapter of the text, which you can find at the beginning of each section. These outcomes should be your goals as you read through the chapter. Attempt the "Try It" problems at the end of the section before checking your answers.

Khan Academy: "Long-Term Supply Curve and Economic Profit"

• Watch this video about the long-term supply curve and economic profit.