This lesson focuses on the basic key theory of the main market structures (as listed below). The lesson includes theory, examples and tasks throughout.
* Perfect competition
* Monopolistic competition
The lesson then focuses on perfectly competitive markets and its key diagrams. The diagrams covered includes:
* Revenue curves in perfect competition
* Short-run equilibrium in perfect competition
* Profit maximisation in perfectly competitive markets
* Long-run equilibrium in perfect competition
There are tasks, examples and clear theory for each diagram. The lesson then looks at monopolies and looks at marginal and average revenue curves in a monopoly. The lesson concludes with an exam style question. I have also included a student copy of the PPT. This 48 page PPT can easily stretch across a number of lessons. I have also included a nice keyword quiz. Perfect for Economics.