Loading presentation...

Present Remotely

Send the link below via email or IM


Present to your audience

Start remote presentation

  • Invited audience members will follow you as you navigate and present
  • People invited to a presentation do not need a Prezi account
  • This link expires 10 minutes after you close the presentation
  • A maximum of 30 users can follow your presentation
  • Learn more about this feature in our knowledge base article

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.


Profit Maximization Under Different Market Structures

No description

Phoebe Estrada

on 26 August 2013

Comments (0)

Please log in to add your comment.

Report abuse

Transcript of Profit Maximization Under Different Market Structures

Profit Maximization Under Different Market Structures
Short-run Profit Maximization

A market structure is the milieu of the firm's characteristics that influence its pricing and output decisions.
Types of Market Structures
Perfect Competition
Pure Monopoly
Monopolistic Competition
A market structure in which the following five criteria are met:
1. All firms sell an identical product.
2. All firms are price takers; they cannot control the market price of their product.
3. All firms have a relatively small market share.
4. Buyers have complete information about the product being sold and the prices being charged by each firm.
5. The industry is characterized by freedom of entry and exit.
Perfect competition is sometimes referred to as "pure competition".
Demand Curve of
Perfect Competition
b) Firm
MR and MC Curves
TR and TC Approach
Marginal Revenue and
Marginal Cost Approach
Profit Maximization
in the Long Run
a) Industry
Perfect Competition
Perfect Competition
Revenue-Cost Schedule
Break Even
Full transcript