| Many consumers and producers in the industry | | |
| Both sellers and buyers are well informed about the prices and products of all firms in the industry | | |
| The minimum level of profit that is needed to maintain long-term production of a particular product | | |
| This occurs when price is equal to marginal cost, at which point the good is available to the consumer at the lowest possible price | | |
| There are barriers to entry that protect the firm from competition by other firms, this is a feature of which market structure? | | |
| The profit maximising position for a Monopolist occurs where | | |
| The maximum price a customer is willing to pay for a good. | | |
| A Perfectly Competitive firm can earn what level of profits in the short run? | | |
| The profit maximising position for a Perfectly Competitive firm occurs where | | |
| The practice of dividing consumers into more than one group with separate demand curves and charging different prices to each group | | |
