'Down decision' presentation slideshows

Chapter 21. Perfect Competition

Chapter 21. Perfect Competition. What is it? Firm behavior Short run Long run. Perfect Competition. many firms, many buyers identical product easy entry/exit for the market prices known existing firms have no advantage. examples. wheat farming dry cleaning.

632 views • 39 slides

FOUR TYPES OF MARKETS

FOUR TYPES OF MARKETS. Perfect Competition --- A market with a very large number of firms, each of which produces the same standardized product and takes the market price as given. A price-taking firm. FOUR TYPES OF MARKETS. Monopolistic Competition ---

2.52k views • 38 slides

AP Economics

455 views • 31 slides

The Shut-Down Decision

The Shut-Down Decision. The Short-Run Production Decision. In the short-run, sometimes the firm should produce even if price falls below minimum ATC Why? Total cost includes fixed cost!

428 views • 29 slides