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April 21st, 2017, 10:17 AM   #1
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About unit costs and quantity of products

Hello

Is there an incomplete number of quantity of products and of unit costs in equilibrium?

I study microeconomics (if it's necessary).

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April 25th, 2017, 03:03 PM   #2
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I do not understand the question.

In micro-economic STATIC analysis, it is usually assumed that an equilibrium exists. (There is a proof that a general equilibrium exists within certain models, but the assumptions needed to support that proof are clearly contrary to the actual world (although economists will kick and scream denying that fact)).

It is however easy to show empirically a high degree of stability in economic life, suggesting that use of static equilibrium models is frequently (though not always) justified.

Moreover, many sets of assumptions will show that either there is a unique equilibrium or at least a unique attractive equilibrium. Any point of equilibrium determines a definite unit price and a definite quantity.

I have not a clue whether that answers your question or not.

EDIT:

It is possible to imagine circumstances when equilibrium can be achieved within a range of prices and quantities.
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Last edited by JeffM1; April 25th, 2017 at 03:06 PM.
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