'Horizontal demand curve' diaporamas de présentation

The Supply Side of The Market

The Supply Side of The Market. Inputs used in production LABOR CAPITAL Land Energy Output Raw materials Human knowledge Information Entrepreneurship. Main factors of production. Total production: Q = f( L , K ) Marginal product: Average product:.

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The Production Decisions of Competitive Firms

The Production Decisions of Competitive Firms. Alternative market structures: perfect competition monopolistic competition oligopoly monopoly. Crucial elements in distinguishing between alternative market structures:. The number of buyers and sellers. The degree of product homogeneity.

524 views • 37 slides

Elasticity

Chapter 19. Elasticity. Part I. Price Elasticity. Price Elasticity. The response of consumers to a change in price is measured by the price elasticity of demand. Price Elasticity.

678 views • 36 slides

Profit maximization

Profit maximization. Profit maximization. Economic profit = total revenue - all economic costs Economic costs include accounting cost ( explicit costs ) and opportunity costs (implicit costs ). Economic vs. accounting profit. economic profit = total revenue - all economic costs

766 views • 26 slides

A.S 3.1

A.S 3.1. Understand Marginal analysis and the behaviour of firms. SLO: Describe characteristics of a perfectly competitive firm. Derive the demand curve for a perfectly competitive firm given market demand and supply. Calculate Total, Average and Marginal Revenue for firms.

337 views • 20 slides

Market Structure

Market Structure. Sellers want to sell at the highest possible price Buyers want to buy at the lowest possible price All trade is voluntary Yet we see that different goods and services are sold in vastly different ways One culprit is the market structure

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Chapter 9 Perfect competition and monopoly: The limiting cases of market structure

Chapter 9 Perfect competition and monopoly: The limiting cases of market structure. David Begg, Stanley Fischer and Rudiger Dornbusch, Economics , 6th Edition, McGraw-Hill, 2000 Power Point presentation by Peter Smith. Perfect competition. Characteristics of a perfectly competition market.

373 views • 18 slides

257 views • 18 slides

Chapter 10 Monopoly

Chapter 10 Monopoly. Monopoly = market with just one seller but many buyers ? market power ? when choosing ?-max level of output, faces market demand curve (which slopes downward), rather than facing perfectly elastic horizontal demand curve. Implies that q* decision affects P.

408 views • 14 slides

Lecture 11 Market Structure

Lecture 11 Market Structure. Market and Competition. Marke t is the transaction between two parties where goods or services are transferred from seller to buyer in exchange of money.

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Chapter 16: Oligopoly

Chapter 16: Oligopoly. Imperfect Market. Imperfect Competition is a market that is neither monopoly, or perfect competition In Imperfect Competition, there are industries that have competitors, but not as much competition. Imperfect Market. There are two main types of Imperfect Competition

292 views • 11 slides

Lecture 12 Imperfect Competition

Lecture 12 Imperfect Competition. Various Forms of Imperfect Competition. Monopoly (most inefficient and most extreme imperfection) The only supplier of a unique product with no close substitutes in the market. Oligopoly (more efficient than a monopoly)

310 views • 10 slides