I am back with yet another problem:D
I am pretty we will have a few people who have studied economics in the past so now its your moral duty to help me out :halo:
1-assume the business is operating under conditions of perfect cometition. if the market price is £280 per OHP, how many OHPs does the firm produce? what is the total profit of the business?
2- in the long term will the price remains at £280? explain reasoning and if the price changes explain the process that causes the price to change?
Ok I know all the smarties will attack me for being so dumb but cnt help myself 
