Competitive Markets In competitive markets
{"Image DocumentName": "Competitive Markets In competitive markets", "Image ImageDescription": "there are many firms, each too small to have any influence on market price (they are \u2018price takers\u2019) competition ensures prices are close to the marginal cost of production (marginal cost measures the opportunity cost of producing another unit of the good) of course, this assumes no tax or other distortions.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}