ch14

ch14


DisciplinaFundamentos da Economia14.280 materiais174.193 seguidores
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14
Firms in Competitive Markets 
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Table 1 Total, Average, and Marginal Revenue for a Competitive Firm
Copyright©2004 South-Western
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Table 2 Profit Maximization: A Numerical Example
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Figure 1 Profit Maximization for a Competitive Firm
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Quantity
0
Costs
and
Revenue
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Figure 2 Marginal Cost as the Competitive Firm\u2019s Supply Curve
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Quantity
0
Price
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Figure 3 The Competitive Firm\u2019s Short Run Supply Curve
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Quantity
0
Costs
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Figure 4 The Competitive Firm\u2019s Long-Run Supply Curve
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Quantity
0
Costs
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Figure 4 The Competitive Firm\u2019s Long-Run Supply Curve
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Quantity
0
Costs
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Figure 5 Profit as the Area between Price and Average Total Cost
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(a) A Firm with Profits
Quantity
0
Price
(profit-maximizing quantity)
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Figure 5 Profit as the Area between Price and Average Total Cost
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(b) A Firm with Losses
Quantity
0
Price
(loss-minimizing quantity)
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Figure 6 Market Supply with a Fixed Number of Firms
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(a) Individual Firm Supply
Quantity (firm)
0
Price
(b) Market Supply
Quantity (market)
0
Price
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Figure 7 Market Supply with Entry and Exit
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(a) Firm
\u2019
s Zero-Profit Condition
Quantity (firm)
0
Price
(b) Market Supply
Quantity (market)
Price
0
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Figure 8 An Increase in Demand in the Short Run and Long Run
Firm
(a) Initial Condition
Quantity (firm)
0
Price
Market
Quantity (market)
Price
0
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Figure 8 An Increase in Demand in the Short Run and Long Run
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Market
Firm
(b) Short-Run Response
Quantity (firm)
0
Price
Quantity (market)
Long-run
supply
Price
0
P
1
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Figure 8 An Increase in Demand in the Short Run and Long Run
Copyright © 2004 South-Western
P
1
Firm
(c) Long-Run Response
Quantity (firm)
0
Price
MC
ATC
Market
Quantity (market)
Price
0
P
1
P
2
Q
1
Q
2
Long-run
supply
B
D
1
S
1
A