Chapter 10
Perfect Competition
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Figure 10.1a Firm Demand Versus Market Demand
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Figure 10.1b Firm Demand Versus Market Demand
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Table 10.2 The Profit-Maximizing Firm: The Texas Hat Company
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Figure 10.2 The Profit-Maximizing Firm
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Figure 10.3 The Loss-Minimizing Firm
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Figure 10.4 The Shutdown Case
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Figure 10.5 Profit Maximization
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Figure 10.6 The Industry Supply Curve
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Figure 10.7a Short-run Equilibrium: The Firm and the Industry
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Figure 10.7b Short-run Equilibrium: The Firm and the Industry
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Figure 10.8a Long-Run Equilibrium: The Firm and the Industry
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Figure 10.8b Long-Run Equilibrium: The Firm and the Industry
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Figure 10.9a Free Entry of Firms Drives Economic Profits to Zero
and Unit Costs to a Minimum
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Figure 10.9b Free Entry of Firms Drives Economic Profits to Zero
and Unit Costs to a Minimum
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Figure 10.10a Exit of Firms Eliminates Losses and Drives Unit
Costs to a Minimum
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Figure 10.10b Exit of Firms Eliminates Losses and Drives Unit
Costs to a Minimum
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Figure 10.11 The Gains from Trade
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Figure 10.12a Consumer Demand for Internet Access Hours
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Figure 10.12b Consumer Demand for Internet Access Hours
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved
Figure 10.13 The Market for Internet Service Providers
Ruffin/Gregory, Principles of Economics, © 2001 Addison Wesley Longman, All rights reserved