Category: 10) Perfect Competition

In the long‐run, firms can vary all of their input factors. The ability to vary the amount of input factors Read more…

In determining how much output to supply, the firm’s objective is to maximize profits subject to two constraints: the consumers’ Read more…

The demand and supply curves for a perfectly competitive market are illustrated in Figure (a); the demand curve for the output Read more…

When economists analyze the production decisions of a firm, they take into account the structure of the market in which Read more…

Economics Tutorials

10) Perfect Competition