中级微观经济学——理论与应用（第10版）（经济学经典教材·双语教学用书） 尼克尔森等 著 0324319681_67672新.pptVIP

Part 5 Perfect Competition Chapter 10 Perfect Competition in a Single Market Pricing in the Very Short Run The market period (very short run) is a short period of time during which quantity supplied is fixed. In this period, price acts to ration demand as it adjusts to clear the market. This situation is illustrated in Figure 10-1 where supply is fixed at Q*. FIGURE 10-1: Pricing in the Very Short Run Pricing in the Very Short Run When demand is represented by the curve D, P1 is the equilibrium price. The equilibrium price is the price at which the quantity demanded by buyers of a good is eq