Perfect competition

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Last updated 3:04 AM on 4/21/26

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9 Terms

1

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short run quantity

p=mc

2

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individual supply

q=solve for q in (P=MC)

3

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Market Supply (Qs)

Qs=nxq

4

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market equilibrium

Qd=Qs

5

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breakeven point

mc=atc

6

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longrun price

P=min atc

7

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number of firms

n=Qmarket/qfirm

8

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9

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