Today we will begin to study market structures. We will focus on perfect (pure) competition. You should read the text chapter identified below in the homework section, watch the related videos for help in understanding this material, do the activities identified, in the homework section and be prepared for the Problem of the Day. This page contains all the information you need for today's class. Use the table of contents on the right to help you navigate.
None
Khan Academy
Problem of the Day: You will work cooperatively with your partner to construct a response to the following prompt.
When examining how the costs of a firm behave as output increases, economists distinguish between the short-run and long-run. Explain why.
Lecture
Related Readings