Entrepreneurs and Perfect Competition
As we continue our discussion on producers and market structure, we want to think like producers. If you are or wish to be an entrepreneur, would you enter a perfectly competitive market? Why or why not? What are some of the challenges you would expect? What are characteristics of a perfectly competitive market?
How Much to Produce
If you are a producer in a perfectly competitive market, how do you know how much of a good to make?
In the market for your labor, do you try to be a 'perfectly competitive' producer?