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Uploaded by khanacademy on Jan 24, 2012
Conditions for perfect competition. Looking at the airline industry
Education
LICENSE: Creative Commons (Attribution-Noncommercial-No Derivative Works).
For more information about this license, please read: http://creativecommons.org/licenses/by-nc-nd/3.0/.
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@Xyrosis Quite the opposite (or did you mix up the words?)
Many players? Not really. Not a monopoly, but I there aren't that many (large) suppliers.
No barriers to entry? Piss someone off before you can afford bodyguards and you're dead.
No advantage for existing? They got their smugglers, know the routes, bribed officials, have their customers...
Good price information?? Really!? Yes, there are SOOO many playces to check for current prices for your favorite drug...
superdau 1 month ago
how can one determine if there is zero economic profit? isn't that kind of an ideal situation where it does not exist?
TheZachary86 1 month ago in playlist More videos from khanacademy
I would assume that the blackmarket sales of drugs would be a good example of perfect competition, not that I agree with their sales.
Xyrosis 1 month ago
Cool. My videos suck don't look at them if you dare.
blackhornet10 1 month ago
Fantastic!
br1an419 1 month ago
sounds like the opposite of the US economy...
plllll0 1 month ago
2nd Comment! Go khanacademy! Love You! ;D
ShouldIBeConcerned 1 month ago
First Comment and View!!! Oh Yeah!! Go khanacademy!!! :D
nicecoolstuff13579 1 month ago in playlist Microeconomics
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@Xyrosis Quite the opposite (or did you mix up the words?)
Many players? Not really. Not a monopoly, but I there aren't that many (large) suppliers.
No barriers to entry? Piss someone off before you can afford bodyguards and you're dead.
No advantage for existing? They got their smugglers, know the routes, bribed officials, have their customers...
Good price information?? Really!? Yes, there are SOOO many playces to check for current prices for your favorite drug...
superdau 1 month ago
how can one determine if there is zero economic profit? isn't that kind of an ideal situation where it does not exist?
TheZachary86 1 month ago in playlist More videos from khanacademy
I would assume that the blackmarket sales of drugs would be a good example of perfect competition, not that I agree with their sales.
Xyrosis 1 month ago
Cool. My videos suck don't look at them if you dare.
blackhornet10 1 month ago
Fantastic!
br1an419 1 month ago
sounds like the opposite of the US economy...
plllll0 1 month ago
2nd Comment! Go khanacademy! Love You! ;D
ShouldIBeConcerned 1 month ago
First Comment and View!!! Oh Yeah!! Go khanacademy!!! :D
nicecoolstuff13579 1 month ago in playlist Microeconomics