Cheat Sheet 3 PDF

Title	Cheat Sheet 3
Author	cozy tape
Course	Introduction to Microeconomics
Institution	Wilfrid Laurier University
Pages	2
File Size	188.7 KB
File Type	PDF
Total Downloads	25
Total Views	142

Preview

CLICK TO PREVIEW PDF

Summary

cheat sheet
...

Description

Perfect Competition: 1) Structure: FIrms have a perfectly elastic demand curve. 3 KD 1)Production at a point where MC=P=MR 2)Produce or Shutdown{produce zero output} (P>= AVC or P>> Shutdown) 3)Long Run Entry/Exit-> is price>= ATC And exit if PATC means enter and Price higher prices through limited competition 1)Brand proliferation 2)Advertising 3)Predatory pricing...