Perfect Competition in the Long Run

Calculate profit and loss, plot on diagrams, and solve problems for given scenarios and variables in this 3-page worksheet. Students will obtain excellent practice after completing these pages. 

Young economists consider perfect competition, market demand, supply, and long-run equilibrium in this practical worksheet. There are eight multiple part questions to answer, real-world scenarios to consider, and graphs to complete.

In this economics worksheet, students respond to 12 short answer questions after they read a brief description of long-run aggregate supply and the production possibilities curve.

Market failure and the effects it has in terms of social benefit is the focus of this eight-page packet. Perfect for homework, this set of excellent worksheets provides several scenarios and graphs that show positive and negative...

Watch as a great economics instructor illustrates a monopolistically competitive firm in long-run equilibrium on a graph, and then compares it to perfect competition.

What happens to price, quantity, and GDP on a graph when the aggregate demand and aggregate supply curves shift? Economics instructor Mr. Clifford provides another great instructional video for macroeconomics students, covering such...

What happens in the long run when aggregate demand increases? Find out how wages, aggregate supply, and the long-run aggregate supply graph are affected by following along with this economics instructor in his instructional video.

How does one graph the Phillips curve? Here you'll find a great instructional video on how to use information and concepts from a basic aggregate supply and demand curve in order to draw the short run and long run Phillips curve.

Does the economy ever achieve a perfect balance? Scholars analyze how the market balances itself with supply and demand. The third episode in a 10-part video series on economics focuses on consumer demand and its impact on overall prices...

Economists who studied the relationship between inflation and unemployment made an important modification to the Phillips curve model with the addition of the long-run Phillips curve (LRPC). When expectations are factored in, and there...