- This topic presents an analysis of firm behavior under perfect competition. It begins by identifying the requirements for perfect competition. It then covers the definitions and meaning of costs in the short and long run, describes the firm’s profit-maximizing output decision and its entry-exit decisions. It ends with a discussion of the efficiency implications of perfect competition.
- Community College / Lower Division, College / Upper Division
- Material Type:
- Ohio Open Ed Collaborative
- Date Added:
- Creative Commons Attribution Non-Commercial
- Media Format:
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