Cost Analysis
This section demonstrates the principles of competition in the different market structures using graphs. Only the Reffonomics site is resourced in this section.
Reffonomics
- Perfect Competition and Costs
- Side by Side Graphs: Perfect Competition
- Perfcet Competiition and Change in Demand
- Entry and Exit
- Cost Curves
- Profit Maximization: MR=MC
- MR=MC Graph
- Shutdown Rule: All Competition
- Shut Down Rule
- Shutdown 3
- Implicit v Explicit Costs
- Long Range ATC Curve
- Factor Markets: Derived Demand
- MRP=MFC
- Intramarginal Rent
- Pure Economic Rent
- Externalities: MSC=MSB (Air Pollution)
- Externalities: MCS=MBS (Education)