This formula applies to any type of firms in the output market 1. Competitive Output Market Competitive industry: Many firms: Firms are independent of each other in decision making Identical product: Each firm faces a horizontal demand curve at the market price Free entry: Zero profit in the long run A competitive firm takes the market price as given. For a given market price p
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1 Preliminary 11 Introduction 12 Cardinality 13 Topology of the Euclidean space 14 Metric space and Baire Category theorem 15 Continuous functions and Distance in metric space 151 Hausdorff distance and Gromov-Hausdorff distance 152 Invariant of domain 2 Lebesgue measure 21 Exterior measure 22 Measure 23 Borel sets and Measurable sets 24 Linear transformation of measurable sets 25 Sets of positive measure 3 Measurable functions 31 Measurable functions 32 Simple functions 33 Littlewood’s Three principles 4 Lebesgue’s integration theory 41 Integration 42 Interchanging limits with integrals 43 Lebesgue vs Riemann 44 Fubini’s Theorem 5 Differentiation 51 Monotone functions 52 Fundamental theorem of Calculus I 521 A detour: Bounded variation functions 53 Fundamental theorem of Calculus II 54 Lebesgue Differentiation Theorem 6 Function spaces 61 L P spaces 611 Normed vector space 612 A detour: Convexity and Jensen’s inequality 613 Completeness: Banach space 614 Separability 62 Hilbert space: