This video covers topic 3.7 of the AP Microeconomics Course Exam Descriptions (CED). This video covers qualities of perfectly competitive firms, long run adjustment, low barriers to entry, firms entering and exiting the market, as well as increasing, decreasing, and constant cost industries.

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I would like to acknowlege the work of Dick Brunelle and Steven Reff from Reffonomics.com who’s work inspired many of the review games on ReviewEcon.com. I would also like to thank Francis McMann, James Chasey, and Steven Reff who taught me how to be an effective AP Economics teacher at AP summer institutes; as well as the countless high school teachers, and college professors from the AP readings, economics facebook groups, and #econtwitter.

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