MGA 202 : Micro
Document Summary
In perfect competition firms ( + consumer) are price takers. Perfect competition is a benchmark this is what we compare everything else to for perfect competition : sellers requirements: many buyers t, goods are seen, free entry, everyone has the same. + exit as homogeneous information without large market shares firms are price takers. S p - - - - - . Atc an market firm p price cost of tree. Quantity of trees (dxq) - ( atc a) = - 560. 10 firm decision making in the long run under. S: ii. : : : : : : : : : : : : :: : : : :-. Iata p p - - - - - ( market g spay curve) - - - - - - - - -iii. hn mnmq . Q positive profit firms enter s ptv. Identifying long run in perf comp in the. Mc __mr( above min arc) p : atc.
