Jan 23, 2013
Running literally any integration against MDR with large amount of data
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Running literally any integration against MDR with large amount of data
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A2 Microeconomics: Perfect Competition
In this video I explain what is a perfectly competitive market, the four key characteristics of a perfectly competitive market, explain why D=AR=MR=P and how firms set price. In my next video I will explain how firms can make profits and losses in the short-run and what does a firm look like in the long-run.
In this video I explain how firms can make profits and losses in the short-run and what does a firm look like in the long-run. I explain the profit maximisation, productive and allocative efficient in the long run. In the first part I explain what is a perfectly competitive market, the four key characteristics of a perfectly competitive market, explain why D=AR=MR=P and how firms set price.