Economics Winter 14 March 26 th, 2014 Lecture 27 Ch. 12: Perfect competition

FINAL EXAM is based on chapters 3, 4, 5 (up to p. 116), 6 (up to p. 138), 8, 9, 10 (up to p. 230, 11, 12, 13, and 14 Its format: 100 Multiple-Choice Questions When and Where: April 21, from 7:00 p.m. to 10:00 p.m; STM 140 Extra Office Hours: April 19, from 1:00 p.m. to 3:00 p.m. Final Exam:

A recap

P Q MC P Q S1S1S1S1 Industry 1,000 firms Firm (price taker) ATC MR $60$50$ $60$50$40 100,000 D1D1D1D1

P Q MC P Q D1D1D1D1 S1S1S1S1 ATC MR $60$50$ $60$50$40 D2D2D2D2 100,000 Industry 1,000 firms Firm (price taker)

P Q MC P Q D1D1D1D1 S1S1S1S1 ATC MR $60$50$ $60$50$40 D2D2D2D2 100,000 S2S2S2S2 IndustryFirm

P Q MC P Q D1D1D1D1 S1S1S1S1 ATC MR $60$50$ $60$50$40 D2D2D2D S2S2S2S firms vs firms IndustryFirm (price taker)

P Q MC P Q D1D1D1D1 S1S1S1S1 ATC MR $60$50$ $60$50$40 100,000 Industry 1,000 firms Firm (price taker)

P Q MC P Q D1D1D1D1 S1S1S1S1 ATC MR $60$50$ $60$50$40 D2D2D2D2 100,000 Industry 1,000 firms Firm (price taker)

P Q MC P Q D1D1D1D1 S1S1S1S1 ATC MR $60$50$ ,000 D2D2D2D2 S3S3S3S3100,000 $60$50$ firms IndustryFirm (price taker)

P Q MC P Q D1D1D1D1 S1S1S1S1 ATC MR $60$50$ ,000 D2D2D2D2 S3S3S3S3 $60$50$40 100, firms vs firms IndustryFirm (price taker)