CHAPTER
8
Perfect Competition
EXHIBIT 1
THE MARKET PRICE AND DEMAND FOR THE PERFECTLY
COMPETITIVE FIRM
Tucker Economics for Today, 4e • Ch 8 Perfect Competition
© 2005 Thomson/South-Western
2
EXHIBIT 3
SHORT-RUN PROFIT MAXIMIZATION USING THE TOTAL REVENUE–
TOTAL COST METHOD FOR A PERFECTLY COMPETITIVE FIRM
Tucker Economics for Today, 4e • Ch 8 Perfect Competition
© 2005 Thomson/South-Western
3
EXHIBIT 4
SHORT-RUN PROFIT MAXIMIZATION USING THE MARGINAL
REVENUE EQUALS MARGINAL COST METHOD FOR A PERFECTLY
COMPETITIVE FIRM
Tucker Economics for Today, 4e • Ch 8 Perfect Competition
© 2005 Thomson/South-Western
4
EXHIBIT 5
SHORT-RUN LOSS MINIMIZATION USING THE MARGINAL
REVENUE EQUALS MARGINAL COST METHOD FOR A PERFECTLY
COMPETITIVE FIRM
Tucker Economics for Today, 4e • Ch 8 Perfect Competition
© 2005 Thomson/South-Western
5
EXHIBIT 6
THE SHORT-RUN SHUTDOWN POINT FOR A PERFECTLY
COMPETITIVE FIRM
Tucker Economics for Today, 4e • Ch 8 Perfect Competition
© 2005 Thomson/South-Western
6
EXHIBIT 7
THE PERFECTLY COMPETITIVE FIRM’S SHORT-RUN
SUPPLY CURVE
Tucker Economics for Today, 4e • Ch 8 Perfect Competition
© 2005 Thomson/South-Western
7
EXHIBIT 8
DERIVING THE INDUSTRY SHORT-RUN SUPPLY CURVE
Tucker Economics for Today, 4e • Ch 8 Perfect Competition
© 2005 Thomson/South-Western
8
EXHIBIT 9
SHORT-RUN PERFECTLY COMPETITIVE EQUILIBRIUM
Tucker Economics for Today, 4e • Ch 8 Perfect Competition
© 2005 Thomson/South-Western
9
EXHIBIT 10
LONG-RUN PERFECTLY COMPETITIVE EQUILIBRIUM
Tucker Economics for Today, 4e • Ch 8 Perfect Competition
© 2005 Thomson/South-Western
10
EXHIBIT 11
LONG-RUN SUPPLY IN A CONSTANT-COST INDUSTRY
Tucker Economics for Today, 4e • Ch 8 Perfect Competition
© 2005 Thomson/South-Western
11
EXHIBIT 12
LONG-RUN SUPPLY IN A DECREASING-COST INDUSTRY
Tucker Economics for Today, 4e • Ch 8 Perfect Competition
© 2005 Thomson/South-Western
12
EXHIBIT 13
LONG-RUN SUPPLY IN AN INCREASING-COST INDUSTRY
Tucker Economics for Today, 4e • Ch 8 Perfect Competition
© 2005 Thomson/South-Western
13