Economics (McConnell) AP Edition, 19th EditionChapter 8:
Pure Competition in the Short RunThe content of this chapter may be included on the AP* Microeconomics exam. After reading this chapter, you should be able to: - Give the names and summarize the main characteristics of the four basic market models.
- List the conditions required for purely competitive markets.
- Convey how purely competitive firms maximize profits or minimize losses in the short run.
- Explain why a competitive firm's marginal-cost curve is the same as its supply curve.
AP Chapter 08 Introduction
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