Pasar Bersaing Sempurna

Tedy Herlambang

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# Pasar Bersaing Sempurna

## Mikroekonomi: Materi Minggu ke 10

### Tedy Herlambang .small[ ]

[ bangtedy.github.io](https://bangtedy.github.io)

[ @t_hlb](https://twitter.com/t_hlb)

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# CAPAIAN PEMBELAJARAN

Setelah mempelajari bab ini, Anada akan mampu:

- Describe the market structure of perfect competition
- Determine the perfectly competitive firm’s profit-maximizing output in the short run
- Outline the conditions under which a firm should produce in the short run rather than shut 
down, even though it incurs an economic loss
- Describe a perfectly competitive firm’s short-run supply curve
- Explain why in perfect competition, there are no economic profits or losses in the long run
- Explain why, in some perfectly competitive industries, market supply curves slope upward in the long run
- Summarize how market equilibrium in perfect competition results in productive efficiency and allocative efficiency
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# AN INTRODUCTION TO PERFECT COMPETITION

- Market structure: important features of a market, such as the number of firms, product uniformity across firms, firm’s ease of entry and exit, and forms of competition.

- Perfect competition: A market structure with many fully informed buyers 
and sellers of a standardized product and with no obstacles to entry or exit of 
firms in the long run

- Commodity: A standardized product; a product that does not differ across producers, such as a bushel of wheat or an ounce of gold

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# Demand Under Perfect Competition

- A perfectly competitive firm is so small relative to the market that the firm’s supply decision does not affect the market price
- Demand curve facing an individual farmer is, therefore, a horizontal line drawn at the market price
- A perfectly competitive firm is called a price taker because that firm must “take,” or accept, the market price—as in “take it or leave it.”

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# SHORT-RUN PROFIT MAXIMIZATION

- The firm maximizes economic profit by finding the quantity at which total revenue exceeds total cost by the greatest amount
- Marginal revenue (MR) The firm’s change in total revenue from selling an 
additional unit; a perfectly competitive firm’s marginal revenue is also the market 
price
- Golden rule of profit maximization: To maximize profit or minimize loss, a firm produces the quantity at which marginal revenue equals marginal cost; this rule holds for all market structures
- The firm increases production as long as each additional unit of output adds more to total revenue than to total cost—that is, as long as marginal revenue exceeds marginal cost
- in perfect competition, marginal revenue is the market price
> Market price = Marginal revenue = Average revenue
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.pull-left1[

.font70[A single study is never the end of the story; multiple studies are 
needed before we can reach defensible conclusions about social phenomena.]

**Special thanks to**

Mahasiswa Agribisnis Angkatan '21
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