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Understanding Economics
Understanding Economics: A Contemporary Perspective, 2/e
Mark Lovewell, Ryerson Polytechnic University
Perfect Competition

Chapter Focus

In this chapter, you will:

Consider the four market structures and the main differences among them

Learn about the profit-maximizing rule and how perfectly competitors use it in the short run

Examine how perfect competitive markets adjust in the long run and the benefits they provide to consumers




McGraw-Hill/Irwin




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