The competitive firm, the firm and the industry demand and supply functions

Learning Objectives

• Competitive firm, firm and the industry
• Demand and supply functions
• Direct and Inverse Demand Function
• Direct and Inverse Supply Function

Note: This is a handwritten note. It is completely based on the class lectures and hands out by Professor.

Suggested Readings:

Kutosoyiannis, A. (1979). Modern Microeconomics. Houndsmill: Macmillan Press Ltd.

Varian. H.R. (2010). Intermediate Microeconomics - A Modern Approach. W W Norton & Company: New York.