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1. Supply Curves and Marginal RevenueHow perfectly-competitive firmswould set output.If there are such firms. 2. The BIG ideas• Perfectly competitive firms produce untilMU=MC.•…

Documents Chapter 22 Perfect Competition Copyright 2002 by The McGraw-Hill Companies, Inc. All rights...

Chapter 22 Perfect Competition Copyright 2002 by The McGraw-Hill Companies, Inc. All rights reserved. 22-1 Chapter Objectives The characteristics of perfect competition…

Documents 1.5.2 Perfect Competition Unit Overview Assumptions of the Perfectly Competitive Model Large number....

Slide 1 1.5.2 Perfect Competition Unit Overview Assumptions of the Perfectly Competitive Model Large number of sellers Homogeneous product No entry barriers Perfect information…