eco 2 pure competition profit.ppt
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Transcript of eco 2 pure competition profit.ppt
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7/24/2019 eco 2 pure competition profit.ppt
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Industry Demand Curve = downward slopin
sub!ect to various influences which make the demand
curve downward slopin
Industry supply curve = positively sloped
"arket price is determined by the interaction of demand and supply
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#$%&TIT' T C *C TC +,IT
- - .-- - .-- /.--
. .0. .-- 12- 32- /112
4 5.4 .-- 34- 54- /10
0 620 .-- 42- 02- 1-0
2 1-42 .-- 0-- 2-- .42
1- 131- .-- 64- 74- 36-
1. 156. .-- 7-- 11-- 46.
14 1234 .-- 1-2- 1.2- 554
10 .-70 .-- 13-- 15-- 570
12 .352 .-- 150- 160- 572
.- .0.- .-- 120- .-0- 50-
%ssumption8
market price +131
C and *C / iven
9reak/even point and T/TC approach for ma:imum profit
T = +:#9;+8T=TC
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irm would achieve positive profit so lon as revenues e:ceed cost
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