Page 17 - FINAL CFA SLIDES DECEMBER 2018 DAY 5
P. 17
Session Unit 4:
15. The Firm & Market Structures
LOS 15.b: Explain relationships between price, marginal revenue, marginal cost, economic profit, and the
elasticity of demand under each market structure, p22
LOS 15.d: Describe and determine the optimal price and output for firms under each market structure., p22
LOS 15.e: Explain factors affecting long-run equilibrium under each market structure, p22
Perfect Competition. P.23
How do you determine
economic profit maximisation output? P. 24
