竞争市场上的企业曼昆经济学原理第七.pptxVIP

竞争市场上的企业曼昆经济学原理第七会计学第1页/共33页What is a Competitive Market?Competitive marketPerfectly competitive marketMarket with many buyers and sellersTrading identical productsEach buyer and seller is a price takerFirms can freely enter or exit the market第2页/共33页What is a Competitive Market?Firm in a competitive marketTries to maximize profit ProfitTotal revenue minus total costTotal revenue, TR = P ? QPrice times quantity Proportional to the amount of output第3页/共33页What is a Competitive Market?Average revenue, AR = TR / QTotal revenue divided by the quantity soldMarginal revenue, MR = ?TR / ?QChange in t