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Principles of Microeconomics - Lecture 10

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Lecture 10 - Competition I

Working with the firm's cost function enables us to learn how much of each input the firm should optimally use to produce a given level of output. However, the firm still has to decide how much output it should produce. This decision depends on the type of market the firm is operating in. We begin by analyzing the most common type of market: perfect competition.

Prof. Jonathan Gruber
14.01 Principles of Microeconomics
(Massachusetts Institute of Technology: MIT OpenCourseWare)
http://ocw.mit.edu
Date accessed: 2012-03-01
License: Creative Commons BY-NC-SA

Lecture Material

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Supplementary lecture material is listed below.

1. Recitation: The Production Function and Costs (PDF)
2. Problem Set Questions (PDF)
3. Problem Set Solutions (PDF)
4. Solution Video (Problem Set 4)

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