Monday, 02 December 2013 10:47

Perfect Competition

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You need to be familiar with the diagrams for each type of market structure. Perfect competition is the most competitive market structure and results in a market where all firms charge the same price and make only normal profits in the long run. This tutorial will talk you though drawing the diagram for perfect competition. Before you look at it I suggest that you make sure you are happy with demand and supply diagrams and the profit maximising condition MR=MC. If you are not they you can search for pages about them using the button on the top right of the menu.

 

Unfortunately at the moment the tutorials are only available using flash so they may not work on mobile devices.

 

 

Read 2168 times Last modified on Tuesday, 05 May 2015 15:52
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