ECO101 Tutorial 11
ECO101 - Week 11 Competition.pdf
- Stuff to study
- Abatement #tk
- 1
- Chart
- AC:
- AC:
- Perfect competition
- When
- When
- When
firms
- 2
- Bundle A: before subsidy
- Average Cost
- Perfect Competition
- Quantity Demanded
- Firms
- Supply curve
- Average Cost
- Bundle C: after subsidy
- Cost curve
times every quantity of something sold as subsidy
- Avg Cost Curve
- Perfect Competition
- Demand
- firms
- Allows more firms to enter the industry
- Supply Curve
- p-int : -20
- q-int : 300
- Cost curve
- Bundle B
- Cost Curve from C
- MC from C
- Avg from C
- Number of firms from A
perfect comp - Supply Curve
- p-int: -20
- q-int: 200
- Equate supply and demand
- Quantity
- Output for B
- Cost Curve from C
- Graph:
- In the tax thing, we add tax to bundle c for cost.
- 4
- Firm A
- Firm B
- Because
firm
- Graph: