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Some Introductory Concepts
The Competitive Firm in the Short Run
18 other sections not shown
additional advantage alternatives associated assume average cost curve behavior carried chapter choice clearly commodity competition connection consequences consider cost per unit decision problem decision-making decisions degree of specialization demand curve depend determine economic efficient elements equilibrium example existing firms expand extent factors of production fields of action Figure first-echelon given greater hence implies increase indifference curve individual inducements industry involved ization labor large firms linkage activities long-run long-run average cost marginal cost curve marginal revenue marginal utility maximize monopolist monopolistic competition motivation nature oligopolistic oligopoly optimal optimum organization organizational objectives output parametric procedure payoff perfectly competitive player possible potential problem profits quantity quasi-rents relation respect role complex role interpretation role structure role types role-determining role-player role-taker scale of operations scheme selling costs short-run situation small firms span of responsibility specific substitution supply curve theory tion tivities unit cost usually variable