曼昆微观经济学chapter14.pptVIP

14 Firms in Competitive Markets Learning Objectives Learn what characteristics make a market competitive Examine how competitive firms decide how much output to produce Examine how competitive firms decide when to shut down production temporarily Examine how competitive firms decide whether to exit or enter a market See how firm behaviour determines a market’s short-run and long-run supply curves WHAT IS A COMPETITIVE MARKET? A perfectly competitive market has the following characteristics: There are many buyers and sellers in the market. The goods offered by the various sellers are largely t