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Perfect competiton: Demand curve for individual producer

Free
By
lostmy1

This video explains the demand curve of an individual firm In a perfectly competitive market. The price of a product is determined by the interaction between the market demand for the product and the market supply of the product. The individual firms take this price as given. It is therefore a price taker. Its demand curve is therefore perfectly elastic (horisontal).


Language:
English
Curriculum Alignment:
CAPS aligned
Publication Date:
2012-01-01
Grade:
12
Audience:
Learners
Teachers
Type:
Video
Categories:
Learning material Subjects
Software Requirements:
Media player
Copyright:
Standard YouTube License
Creative Commons License:
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