Perfect Competition (Part 1): An Introduction

This video displays two side-by-side analyses. The only market structure for which a side-by-side analysis makes sense is a Perfectly Competitive market structure. This is because the quantity access has homogeneous products. Furthermore, “side-by-side” analysis requires the vertical axes to be calibrated the same. This is important for showing that the market price determines the firm’s price. This video is made for 1st year college students or AP/IB Economics students. It focuses on foundational economic concepts.