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Overview:
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.
Subject:
Economics
Level:
Community College / Lower Division, College / Upper Division
Material Type:
Module
Provider:
Ohio Open Ed Collaborative
Date Added:
05/06/2019
License:
Creative Commons Attribution-NonCommercial 4.0 Creative Commons Attribution-NonCommercial 4.0
Language:
English
Media Format:
eBook

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