Market structures: Perfect competition

7.1 Perfect competition

Activity

Principles of Microeconomics: "Chapter 9: Competitive Markets for Goods and Services"

• Read this chapter for an explanation of the model of perfect competition, which is crucial to your understanding of the more complicated and realistic models that will be studied next. Take a moment to read through the stated learning outcomes for this chapter of the text, which you can find at the beginning of each section. These outcomes should be your goals as you read through the chapter. Attempt the "Try It” problems at the end of each section.

John Petroff's "Microeconomics, Chapter 4: Perfect Competition"

• Read this chapter.

OpenStax College: "Microeconomics, Chapter 8: Perfect Competition"

• Read Chapter 8, which provides an overview of the Perfect Competition model and a guide to the elements you need to know in order to understand the model.

Khan Academy: "Perfect Competition"

• Watch this video about perfect competition.