- 8A.2 Cost Minimization
a. The Principle of Substitution - 9 Competitive Markets
A. Chapter Outline
B. Learning Objectives (LO)
C. 9.1 Market Structure and Firm Behaviour - Competitive Markets
- Competitive Behaviour
D. 9.2 The Theory of Perfect Competition - The Assumptions of Perfect Competition
E. The Demand Curve for a Perfectly Competitive Firm - Total, Average, and Marginal Revenue
F. 9.3 Short-Run Decisions - Should the Firm Produce at All?
- How Much Should the Firm Produce?
- Short-Run Supply Curves
a. The Supply Curve for One Firm
b. The Supply Curve for an Industry - Short-Run Equilibrium in a Competitive Market
G. 9.4 Long-Run Decisions - Entry and Exit
a. An Entry-Attracting Price
b. An Exit-Inducing Price
c. The Speed of Exit - Long-Run Equilibrium
a. Conditions for Long-Run Equilibrium - Changes in Technology
rishikesh
(rishikesh)
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