Lecture Economics (6/e): Chapter 22 - Stephen L. Slavin
Lecture Economics (6/e): Chapter 22 - Stephen L. Slavin
The objectives of this chapter are to introduce perfect competition. After studying this chapter you will be able to understand: The characteristics of perfect competition; the perfect competitor’s demand curve; the short run and and the long run; economic and accounting profits; decreasing, constant, and increasing cost industries.