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| Keywords: CompetitiveMarket-Wiki.jpg en Depicts Equilibrium and Economic Profit in a Competitive Market A Competitive Market has many firms who supply goods to a Market in which Consumers purchase these goods at the Market Price Firms and Consumers interact Buying and selling in the Market and this interaction establishes a Market Price that ensures Firms are not left with a Surplus they can't sell and there isn't a Scarcity of supply that prevents Consumers from buying exactly what they Demand at the given Price The Picture shows the Market for the Industry as well as 2 of the many Firms that supply the Market The Picture of the 2 Firms shown here are used only as an example of the individual Firms that supply a Competitive Market and how they fit within the Market Mgmwki - From Various Micro Economics Classes - General Knowledge in Economics show in every beginning level Micro Class Mgmwki - example of a text book that contains this is noted<Ref Name MicroEcon_MathApproach >Henderson James M and Richard E Quandt Micro Economic Theory A Mathematical Approach 3rd Edition New York McGraw-Hill Book Company 1980 Glenview Illinois Scott Foresmand and Company 1988 </ref> 2011-01-10 This is considered General Knowledge amongst all Economists - In Economics Classes in College You can Find this in various forms in any Micro Economics Text Book Journal Article You may Find various representations of the same thing in various Micro Economics Books This includes both Graduate Level and Undergraduate Level books as well as some very popular books like the 'Economics for Dummies' book s <Ref Name Essentials >Bradley R chiller Essentials of Economics New York McGraw-Hill Inc 1991 </ref> <Ref Name MicroTheory >Edwin Mansfield Micro-Economics Theory and Applications 3rd Edition New York and London W W Norton and Company 1979 </ref> <Ref Name IntermediateMicro >Roger LeRoy Miller Intermediate Microeconomics Theory Issues Applications Third Edition New York McGraw-Hill Inc 1982 </ref> <Ref Name MicroEcon_MathApproach >Henderson James M and Richard E Quandt Micro Economic Theory A Mathematical Approach 3rd Edition New York McGraw-Hill Book Company 1980 Glenview Illinois Scott Foresmand and Company 1988 </ref> References <references/> Economic diagrams | ||||
