The figure given below shows the aggregate demand and supply curves of a perfectly competitive market.Figure 10.7
-A competitive firm's minimum supply price in the short run is its shutdown price.
Definitions:
Conditions
The set of circumstances or criteria that affect financial decisions or the outcome of investments.
Capacity
The maximum level of output that a company can sustain to produce in a given period under normal circumstances.
Collateral
An asset that a borrower offers to a lender as a security for a loan, which can be seized if the loan is not repaid.
Credit Cost Curve
Graphical representation of the sum of the carrying costs and the opportunity costs of a credit policy.
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