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A Level Economics > Micro A2 - Perfecct Competition > Flashcards

Micro A2 - Perfecct Competition Flashcards

1
Q

Characteristics of perfect competition

A

Lots of Competitors
Price takers
Low barriers to entry and exit.
Low market shares

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2
Q

Profit maximising equilibrium in the short run

A
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3
Q

Profit maximising equilibrium in the long run

A
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4
Q

How to do diagrammatical analysis of perfect competition

A
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A Level Economics (89 decks)

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