Describe in detail four characteristics of pure competition. If pure competition is so rare in practice, why
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- Describe in detail four characteristics of pure competition. If pure competition is so rare in practice, why are students of economics asked to study it?
Describe the total-revenue--total-cost approach to profit maximization. Why does the purely competitive firm want to maximize total profit but not its per-unit profit?
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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