Tham khảo tài liệu 'chương 9 cạnh tranh hoàn hảo và độc quyền: các trường hợp hạn chế của cơ cấu thị trường', kinh doanh - tiếp thị, quản trị kinh doanh phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 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 many buyers and sellers so no individual believes that their own action can affect market price firms take price as given so face a horizontal demand curve the product is homogeneous perfect customer information free entry and exit of firms Characteristics of a perfectly competition market 9. See Section 9-1 in the main text. The supply curve under perfect competition (1) Above price P3 (point C), the firm makes profit above the opportunity cost of capital in the short run At price P3, (point C), the firm makes NORMAL PROFITS P1 £ Output SAVC SMC Q1 SATC P3 A C Q3 9. See Section 9-1 in the main text, and Figure 9-2. The supply curve under perfect competition (2) Between P1 and P3, (A and C), the firm makes short-run losses, but remains in the market Below P1 (the SHUT-DOWN PRICE), the firm fails to cover SAVC, and exits P1 £ Output SAVC SMC Q1 SATC P3 A C Q3 9. See Section 9-1 in the main text, and Figure 9-2. The supply curve under perfect competition (3) So the SMC curve above SAVC represents the firm’s SHORT-RUN SUPPLY CURVE showing how much the firm would produce at each price level. P1 £ Output SAVC SMC Q1 SATC P3 A C Q3 9. See Section 9-1 in the main text, and Figure 9-2. The firm and the industry in the short run under perfect competition (1) INDUSTRY Output £ Q P SRSS D Firm SAC P £ Output SMC D=MR=AR q Market price is set at industry level at the intersection of demand and supply – the industry supply curve is the sum of the individual firm’s supply curves. 9. See Section 9-3 in the main text. The firm and the industry in the short run under perfect competition (2) INDUSTRY Output £ Q P SRSS D SAC Firm P £ Output SMC D=MR=AR q The firm accepts price as given at P – and chooses output at q where SMC=MR to | 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 many buyers and sellers so no individual believes that their own action can affect market price firms take price as given so face a horizontal demand curve the product is homogeneous perfect customer information free entry and exit of firms Characteristics of a perfectly competition market 9. See Section 9-1 in the main text. The supply curve under perfect competition (1) Above price P3 (point C), the firm makes profit above the opportunity cost of capital in the short run At price P3, (point C), the firm makes NORMAL PROFITS P1 £ Output SAVC SMC Q1 SATC P3 A C Q3 9. See Section 9-1 in the main text, and Figure 9-2. The supply curve under perfect competition (2) Between P1 and P3, (A and C), the firm makes short-run losses, but remains in the .
