1. If production were at point a in Figure 24.8, describe the process whereby equilibrium at point P1C1 would be restored under perfect competition.\n2
1. If production were at point a in Figure 24.8, describe the process whereby equilibrium at point P1C1 would be restored under perfect competition.
\r\n2. Why would production be unlikely to take place at P1C1 if competition were not perfect?