https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z Market structures en-us 2022-03-03 07:03:58 UTC 2022-03-03 13:41:24 UTC hello@padlet.com maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075326193 2022-03-03 08:03:41 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075326193 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075327611 many buyers and sellers
low concentration ratio]]> 2022-03-03 08:04:39 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075327611 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075329776 price takers ( ar = mr )]]> 2022-03-03 08:06:18 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075329776 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075330891 perfect knowledge of prices and profit]]> 2022-03-03 08:07:07 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075330891 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075332020 homogeneous products ( no product differentiation )
PED = INFINITY]]> 2022-03-03 08:07:53 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075332020 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075659564 No barriers to entry - free entry and exit]]> 2022-03-03 12:07:43 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075659564 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075660252 No transport cost - factor immobility]]> 2022-03-03 12:08:12 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075660252 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075660757 same technology for all firm]]> 2022-03-03 12:08:32 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075660757 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075661992 2022-03-03 12:09:17 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075661992 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075662749 normal profit in the long run]]> 2022-03-03 12:09:50 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075662749 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075663276 MC = AC = MR = AR = P]]> 2022-03-03 12:10:20 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075663276 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075664268 short run subnormal profit offset by hit and run competition]]> 2022-03-03 12:11:10 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075664268 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075667029 allocative efficiency MR = AR
productive efficiency MC = AC
low prices and high quality
many suppliers - cost reduction MC = S
responsive to changes in demand ( flexible )

]]> 2022-03-03 12:13:23 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075667029 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075667627 high turnover for firms]]> 2022-03-03 12:13:51 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075667627 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075668254 lack of research - innovation is copied]]> 2022-03-03 12:14:22 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075668254 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075670768 lack of variation - limits consumer choice]]> 2022-03-03 12:16:05 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075670768 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075672928 unable to take advantages of economies of scale]]> 2022-03-03 12:17:44 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075672928 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075679649 shutdown point 
short run - P = min . AVC
long run - P = min . AC]]> 2022-03-03 12:22:33 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075679649 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075681021 acts as efficiency benchmarks for other market structures]]> 2022-03-03 12:23:30 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075681021 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075686400 MC = MR
AR > AC

]]> 2022-03-03 12:27:52 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075686400 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075687524 MC = MR
AR < AC

]]> 2022-03-03 12:28:47 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075687524 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075690268 MC = MR
MC = MR = AC = AR
AC = AR]]> 2022-03-03 12:31:03 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075690268 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075775810 2022-03-03 13:24:38 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075775810 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075778630 optimum allocation of resources 
economic efficiency can be achieved in PC
productive - min of AC curve
allocative - P = MC]]> 2022-03-03 13:25:55 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075778630 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075779930 competition within firms which act as a spur of efficiency]]> 2022-03-03 13:26:36 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075779930 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075780500 no advertising needed ]]> 2022-03-03 13:26:54 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075780500 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075782608 2022-03-03 13:27:56 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075782608 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075783202 not able to afford research and development 
no supernormal profit in the long run
no investment made]]> 2022-03-03 13:28:16 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075783202 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075785361 no guarantee that goods produced are distributed in the fairest proportions]]> 2022-03-03 13:29:14 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075785361 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075793169 certain production of goods may lead to undesirable side effects e.g pollution]]> 2022-03-03 13:32:58 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075793169 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075794807 homogenous product
lack of variety for consumers]]> 2022-03-03 13:33:32 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075794807 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075800215 2022-03-03 13:36:21 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075800215 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075803327 2022-03-03 13:37:53 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075803327 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075805167 PC long run]]> 2022-03-03 13:38:51 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075805167 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075809933 2022-03-03 13:41:16 UTC https://padlet.com/maisarahrazalimin2021/3jiayrah5nqnuu6z/wish/2075809933