Profit in perfect competition (HL only)

IB Economics: Profit in perfect competition (HL only)

Your students will already have learnt to draw demand curves in the first part of the course but they will also need to practise drawing the unique demand curve for a perfectly competitive firms. Something that IB students will sometimes confuse is that many will remember that while firms perfectly competition will make normal profits only, in the short run all levels of profit are possible − normal profit, abnormal...

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