Monday 1 November 2010

Perfect Competition


In this video I explain what is a perfectly competitive market, the four key characteristics of a perfectly competitive market, explain why D=AR=MR=P and how firms set price. In my next video I will explain how firms can make profits and losses in the short-run and what does a firm look like in the long-run. 



In this video I explain how firms can make profits and losses in the short-run and what does a firm look like in the long-run. I explain the profit maximisation, productive and allocative efficient in the long run. In the first part I explain what is a perfectly competitive market, the four key characteristics of a perfectly competitive market, explain why D=AR=MR=P and how firms set price.






For those of you who are curious to learn more please click here to view my new booklet on perfect competition...

1 comment:

  1. The world is so competitve, aggressive,
    consumive, selfish and during the time we spend here we must be all but that. See the link below
    for more info.


    #competitive
    www.ufgop.org

    ReplyDelete