Perfect competition

OpenStax

@

Introduction to perfect competition

Perfect competition and why it matters

1 Key concepts and summary

How perfectly competitive firms make output decisions

1 Determining the highest profit by comparing total revenue and total

2 Comparing marginal revenue and marginal costs

3 Profits and losses with the average cost curve

4 The shutdown point

5 Short-run outcomes for perfectly competitive firms

6 Marginal cost and the firm’s supply curve

7 Key concepts and summary

Entry and exit decisions in the long run

1 How entry and exit lead to zero profits in the long run

2 The long-run adjustment and industry types

3 Key concepts and summary

Efficiency in perfectly competitive markets

1 Key concepts and summary

Source: OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11

	9 Monopoly By OpenStax Read Online Course
	7 Cost and industry structure By OpenStax Read Online Course
	U.s. history By OpenStax Read Online Course
	Are you a 5sos fan? By Rylee Minllic Start Quiz
	Business Law Ethics By Kevin Moquin Start Quiz
	43 Biology 43 Animal Reproduction Development MCQ By OpenStax Start Quiz
	7 Microbiology Unit 3 By Madison Christian Start Test
	Anthropology Religion Culture By Richley Crapo Start Assignment
	Worldport Outside By Rachel Carlisle Start Quiz
	3 Business Law MCQ 3 By Maureen Miller Start Exam
	13 AP 13 Nervous System MCQ By OpenStax Start Quiz
	Chemistry Practice Test By Sandhills MLT Start Test