Meaning loss minimization perfect competition
What does loss minimization perfect competition mean? Below you find one meaning for the word loss minimization perfect competition You can also add a definition of loss minimization perfect competition yourself
1 |
0
0
loss minimization perfect competitionA perfectly competitive firm is presumed to produce the quantity of output that minimizes economic losses, if price is greater than average variable cost but less than average total cost. This is one [..]
|
| << zero slope | perfect competition characteristics >> |