Firm Behaviour

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Across
  1. 3. this kind of power doesn’t exist in perfect competition
  2. 6. example of a barrier to entry
  3. 9. this curve is flat when it equals MC
  4. 10. economists include these costs
  5. 12. when marginal product of labour is decreasing, it’s
  6. 13. firms in perfect competition are price
  7. 15. MC=P=AVC is the point of
Down
  1. 1. these kinds of economic profits are not possible in perfect competition
  2. 2. costs that do not vary with output are
  3. 4. a firm’s inability to fully utilize its resources
  4. 5. in perfect competition, products are not
  5. 7. the demand curve of perfect competition is perfectly
  6. 8. TC-TFC equals
  7. 11. these kinds of costs should not be considered when moving forward
  8. 14. example firm used in class about marginal product of labour