High Quality Content by WIKIPEDIA articles! In neoclassical economics and microeconomics, perfect competition describes a market in which there are many small firms, all producing homogeneous goods. In the short term, such markets are productively inefficient as output will not occur where marginal cost is equal to average cost, but allocatively efficient, as output under perfect competition will always occur where marginal cost is equal to marginal revenue, and therefore where marginal cost equals average revenue. However, in the long term, such markets are both allocatively and productively efficient. In general a perfectly competitive market is characterized by the fact that no single firm has influence over the price of the product it sells. Because the conditions for perfect competition are very strict, there are few perfectly competitive markets.
Produktkennzeichnungen
Herausgeber
Lambert M. Surhone, Miriam T. Timpledon, Sussan F. Marseken
EAN
9786130342135
ISBN
9786130342135
ISBN-10
6130342136
ISBN-13
9786130342135
eBay Product ID (ePID)
164099277
Produkt Hauptmerkmale
Sprache
Englisch
Anzahl der Seiten
76 Seiten
Verlag
Betascript Publishing, Betascript Publishers
Autor
Lambert M. Surhone, Miriam T. Timpledon, Susan F. Marseken
Buchtitel
Perfect Competition
Format
Taschenbuch
Erscheinungsjahr
2010
Maße
Gewicht
130g
Zusätzliche Produkteigenschaften
Hörbuch
No
Inhaltsbeschreibung
Paperback
Item Length
22cm
Item Height
5mm
Item Width
15cm
Sprachausgabe
Englisch
Seiten
76 Seiten
Herausgaber
Lambert M. Surhone, Miriam T. Timpledon, Susan F. Marseken
Item Weight
130g
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