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4 Cards in this Set
- Front
- Back
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Perfectly competitive market
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Market that meets these conditions:
1. many buyers/sellers 2. all firms selling identical products 3. no barriers to new firms entering the market MBS, FS-idP, no B to NF |
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demand schedule
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table that shows relationship between price of product and quantity of product demanded
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quantity demanded
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amount of a g/s that consumer is willing and able to purchase at given price
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demand curve
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shows relationship between price of peuduct
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