CHAPTER Perfect Competition 8.

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Presentation transcript:

CHAPTER Perfect Competition 8

EXHIBIT 1 THE MARKET PRICE AND DEMAND FOR THE PERFECTLY COMPETITIVE FIRM

EXHIBIT 3 SHORT-RUN PROFIT MAXIMIZATION USING THE TOTAL REVENUE–TOTAL COST METHOD FOR A PERFECTLY COMPETITIVE FIRM

EXHIBIT 4 SHORT-RUN PROFIT MAXIMIZATION USING THE MARGINAL REVENUE EQUALS MARGINAL COST METHOD FOR A PERFECTLY COMPETITIVE FIRM

EXHIBIT 5 SHORT-RUN LOSS MINIMIZATION USING THE MARGINAL REVENUE EQUALS MARGINAL COST METHOD FOR A PERFECTLY COMPETITIVE FIRM

EXHIBIT 6 THE SHORT-RUN SHUTDOWN POINT FOR A PERFECTLY COMPETITIVE FIRM

EXHIBIT 7 THE PERFECTLY COMPETITIVE FIRM’S SHORT-RUN SUPPLY CURVE

EXHIBIT 8 DERIVING THE INDUSTRY SHORT-RUN SUPPLY CURVE

EXHIBIT 9 SHORT-RUN PERFECTLY COMPETITIVE EQUILIBRIUM

EXHIBIT 10 LONG-RUN PERFECTLY COMPETITIVE EQUILIBRIUM

EXHIBIT 11 LONG-RUN SUPPLY IN A CONSTANT-COST INDUSTRY

EXHIBIT 12 LONG-RUN SUPPLY IN A DECREASING-COST INDUSTRY

EXHIBIT 13 LONG-RUN SUPPLY IN AN INCREASING-COST INDUSTRY