Econ question

[causearuckus]

What is the difference between a perfectly competetive firm and a perfectly competetive market?

 

[Albis]

A perfectly competitive firm will set Prices = marginal costs

a perfectly competitive market has no dead weight loss

that's all i can think of right now

 

[Juice Box]

nice, thanks, anyone else know anything?

 

[hdeck]

firm: sets prices = marginal costs
market: sets prices where supply and demand intersect

at least...that sounds right...