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AP®︎/College Microeconomics
Course: AP®︎/College Microeconomics > Unit 3
Lesson 7: Perfect competition- Introduction to perfect competition
- Economic profit for firms in perfectly competitive markets
- Perfect competition foundational concepts
- Long-run economic profit for perfectly competitive firms
- Long-run supply curve in constant cost perfectly competitive markets
- Long run supply when industry costs aren't constant
- Free response question (FRQ) on perfect competition
- Perfect competition in the short run and long run
- Increasing, decreasing, and constant cost industries
- Efficiency and perfect competition
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Perfect competition foundational concepts
AP.MICRO: PRD‑3 (EU), PRD‑3.A (LO), PRD‑3.A.1 (EK), PRD‑3.A.3 (EK), PRD‑3.A.4 (EK)
