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Supply and Demand Under Perfect Competition

In: Principles of Microeconomics

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  • Martin Kolmar

    (University of St. Gallen)

Abstract

This chapter covers … the functioning of competitive markets as one way of organizing economic activities. how supply and demand can be determined, how they can be used to predict market behavior and the effect changes have in the economic environment on economic outcomes. how to apply the theory of competitive markets in order to better understand the economy.

Suggested Citation

  • Martin Kolmar, 2017. "Supply and Demand Under Perfect Competition," Springer Texts in Business and Economics, in: Principles of Microeconomics, chapter 4, pages 55-82, Springer.
    • Handle: RePEc:spr:sptchp:978-3-319-57589-6_4
    DOI: 10.1007/978-3-319-57589-6_4
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