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Class notes ECO415 - Pure Competition in short run

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Institution
Uitm Puncak Alam
Course
ECO415

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CHAPTER 10
Pure Competition in the Short

, Chapter Contents
Four Market Models
Pure Competition: Characteristics and Occurrence
Demand as Seen by a Purely Competitive Seller
Profit Maximization in the Short Run: Total-Revenu
Approach
Profit Maximization in the Short Run: Marginal-Rev
Marginal-Cost Approach
Marginal Cost and Short-Run Supply

, Four Market Models
Perfect Market
• Pure competition
Imperfect competition
• Monopolistic competition
• Oligopoly
• Pure monopoly
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Institution
Uitm puncak alam
Course
ECO415
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Uploaded on
July 18, 2023
Number of pages
29
Written in
2022/2023
Type
Class notes
Professor(s)
Madam fatihah
Contains
All classes

Subjects

  • economy
  • pure competition
  • four market models
  • marginal cost
  • short run supply
  • profit maximization
  • total revenue and marginal revenue
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