Unit 3: Are Businesses Efficient? Product Markets and Efficiency

Lesson 8/9a: Pure Competition: Characteristics and Short Run Equilibrium

Assignments: Video Lectures

MARKET STRUCTURE 5.1.3 Understanding Market Structure 10:55 [MyNotes] WHAT IS A PERFECTLY COMPETITIVE MARKET? (PURE COMPETITION) 5.1.2 Understanding the Role of Price 3:43 [MyNotes] 5.1.1 Calculating Total Revenue 3:36 MyNotes] PURE COMPETITION - SHORT RUN PROFIT MAXIMIZATION 5.2.1 Finding the Firm's Profit Maximizing Output Level 14:24 [MyNotes] 5.2.2 Proving the Profit Maximizing Rule 4:20 [MyNotes] 5.2.3 Calculating Profit 12:26 [MyNotes] 5.2.4 Calculating Loss 9:13 [MyNotes] 5.2.5 Finding the Firm's Shut-Down Point 8:35 [MyNotes] PURE COMPETITION - SHORT AND LONG RUN MARKET SUPPLY 5.3.1 Deriving the Short-Run Market Supply 20:44 [MyNotes]

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