Reffonomics.com

5.1 Characteristics of Different Market Structures

Unit 5: Perfect Competition

Steven M. Reff
Economics Lecturer
University of Arizona
(2007 - 2016)
The 2015 University of Arizona
Five-Star Faculty Award

7 hours - 9 hours max.

12 - 15% of exam

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Unit 5: Perfect Competition (10%–15%)

• Topic 5.1   Characteristics of different market structures
• Topic 5.2   Perfect competition
                         • Profit maximization
                         • Short-run supply and shut-down decision
                         • Firm and market behaviors in short-run and long-run equilibria
• Topic 5.3   Efficiency and perfect competition

eVideos -- Short Videos:

eWorkbook Activities Interactive:

eTextbook Reading:

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5.2 Perfect Competition

eVideos -- Short Videos:

5.3 Efficiency and Perfect Competition

Types of Competition & Market Structures

Types of Market Structures (Interactive Table of Market Characteristics)

Perfect Competition, Part I

Perfect Competition, Part II

Perfect Competition, Part III

Perfect Competition, Part IV

Perfect Competition Graphs, Part II (Increase and Decrease in Demand, SR and LR Effects)

Perfect Competition Graphs, Part I (Economic Profit > = < 0)

Perfect Competition Graphs, Part III (Constant Cost, Increasing Cost, and Decreasing Cost)

Perfect Competition (Definitions and Terms)

Perfect Competition Three Large Graphs (Firm on left; Firm on right; or Your Choice)

Perfect Competition (Finding Points on the Firm Graph)

Perfect Competition Graphs (Draw Firm Graphs)

Perfect Competition (True or False Questions)

Perfect Competition Silent Movie, Part I

Perfect Competition Silent Movie, Part II

Perfect Competition Silent Movie, Part III

Reffonomics Baseball (Unit 4: Perfect Competition)

Perfect Competition Graph (Dragging a Price Line Graph)

Perfect Competition Graphs (Drag, Drop, and Draw Graphs)

17 Multiple Choice Questionson Perfect Competition

15 Multiple Choice Questions on Perfect Competition

Perfect Competition Graph, Part III

Perfectly Competitive Characteristics Part I

Perfect Competition Graph, Part IV

Perfect Competition Graph, Part II

Perfect Competition Graph, Part V

Types of Market Structure, Part I

Types of Market Structure, Part II

Perfect Competition and Allocative Efficiency

Perfect Competition and Productive Efficiency

Perfect Competition and Diminishing Marginal Returns

Perfect Competition and a Long-Run Constant Cost Industry

Perfect Competition and a Long-Run Increasing Cost Industry

Perfect Competition and a Long-Run Decreasing Cost Industry

eVideos -- Short Videos:

eWorkbook Activities Interactive:

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Perfect Competition, (Decrease in Demand)

Perfect Competition, (Increase in Demand)

P erfect Competition, (Firm and Industry)

REVIEW: Talking Heads Review Videos:

eTextbook Reading:

Perfect Competition, (Decreasing-Cost Industry)

Perfect Competition, (Increasing-Cost Industry)

Perfect Competition, (Constant-Cost Industry)

Review: Silent Movie Reviews

TEST YOURSELF: Units 5.1 - 5.3

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18 Multiple Choice Questions on Perfect Competition

3 0 Multiple Choice Questions on Perfect Competition

CLEP® Principles of Microeconomics Course Preparation

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PC F irm Cost and Revenue Graph, Part I

P C Firm Cost and Revenue Graph, Part II

(3 min. or less, along with 3 multiple choice questions)

eWorkbook Activities Interactive: