{"id":714,"date":"2019-10-10T20:04:00","date_gmt":"2019-10-10T20:04:00","guid":{"rendered":"https:\/\/analystprep.com\/cfa-level-1-exam\/?p=714"},"modified":"2026-01-09T13:00:12","modified_gmt":"2026-01-09T13:00:12","slug":"supply-function-under-different-market-structures","status":"publish","type":"post","link":"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/","title":{"rendered":"Firms&#8217; Supply Function Under Different Market Structures"},"content":{"rendered":"\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"VideoObject\",\n  \"name\": \"The Firm and Market Structures (2022 Level I CFA\u00ae Exam \u2013 Reading 9)\",\n  \"description\": \"This video lesson covers the firm and market structures in economics. It explains key characteristics of monopoly, monopolistic competition, oligopoly, and perfect competition, including pricing power, barriers to entry, profit strategies, cost structures, and market outcomes. It also explores concentration ratios and the Herfindahl-Hirschman Index to assess industry competitiveness.\",\n  \"uploadDate\": \"2019-07-11T00:00:00+00:00\",\n  \"thumbnailUrl\": \"https:\/\/img.youtube.com\/vi\/PBMOxv2e3QU\/maxresdefault.jpg\",\n  \"contentUrl\": \"https:\/\/www.youtube.com\/watch?v=PBMOxv2e3QU\",\n  \"embedUrl\": \"https:\/\/www.youtube.com\/embed\/PBMOxv2e3QU\",\n  \"duration\": \"PT21M26S\"\n}\n<\/script>\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"QAPage\",\n  \"@id\": \"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/#qapage-question-1\",\n  \"mainEntity\": {\n    \"@type\": \"Question\",\n    \"@id\": \"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/#question-1\",\n    \"name\": \"Which market structure has a purely defined supply function?\",\n    \"text\": \"Which forms of market structures have a purely defined supply function?\\nA. Perfect competition.\\nB. Perfect competition and monopolistic competition.\\nC. Perfect competition, monopolistic competition, and oligopoly.\",\n    \"answerCount\": 1,\n    \"author\": {\n      \"@type\": \"Organization\",\n      \"name\": \"AnalystPrep\"\n    },\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"@id\": \"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/#answer-1\",\n      \"text\": \"A. Perfect competition. Only under perfect competition does a firm have a well-defined supply function, because firms are price takers and supply is determined solely by marginal cost above average variable cost.\",\n      \"author\": {\n        \"@type\": \"Organization\",\n        \"name\": \"AnalystPrep\"\n      }\n    }\n  }\n}\n<\/script>\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"ImageObject\",\n  \"@id\": \"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/cfa-level-1-perfect-competition.png\",\n  \"url\": \"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/cfa-level-1-perfect-competition.png\",\n  \"width\": 785,\n  \"height\": 641,\n  \"caption\": \"Supply function under perfect competition as part of different market structures\",\n  \"copyrightNotice\": \"\u00a9 AnalystPrep\",\n  \"creditText\": \"AnalystPrep\",\n  \"creator\": {\n    \"@type\": \"Organization\",\n    \"name\": \"AnalystPrep\"\n  }\n}\n<\/script>\n\n\n\n\n<iframe loading=\"lazy\"\n  width=\"611\"\n  height=\"344\"\n  src=\"https:\/\/www.youtube.com\/embed\/PBMOxv2e3QU?rel=0&#038;modestbranding=1&#038;playsinline=1&#038;vq=hd1080\"\n  title=\"YouTube video player\"\n  frameborder=\"0\"\n  allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\"\n  allowfullscreen>\n<\/iframe>\n\n\n\n<h2>\u00a0<\/h2>\n<p>A supply function is a mathematical expression that represents the relationship between the units of quantity of a product or service demanded, its price, and other deterministic factors such as input costs, prices of substitutes, etc. The dependent variable is the quantity supplied, while the associated factors are independent.<\/p>\n<h2><strong>Supply Function in a Perfectly Competitive Market<\/strong><\/h2>\n<p>In a free market, the cost curves find the optimal production point. This is the point where costs are minimized, and profits maximized. Individual firms\u2019 supply curves are positively sloped. Thus, an increase in price causes an increase in supply. In this case, the supplied quantity is dependent on the market prices, while the price is dependent on the quantity available in the market.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-39536 size-full aligncenter\" src=\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/cfa-level-1-perfect-competition.png\" alt=\"\" width=\"785\" height=\"641\" srcset=\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/cfa-level-1-perfect-competition.png 785w, https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/cfa-level-1-perfect-competition-300x245.png 300w, https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/cfa-level-1-perfect-competition-768x627.png 768w, https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/cfa-level-1-perfect-competition-400x327.png 400w\" sizes=\"auto, (max-width: 785px) 100vw, 785px\" \/><\/p>\n<p>As demand rises from D1 to D2, the quantity supplied rises from Q1 to Q2, and the price also rises from P1 to P2.<\/p>\n<h3><strong>Example of Supply Function in a Perfectly Competitive Market<\/strong><\/h3>\n<p>Assume that the supply function of a product is given by:<\/p>\n<p>\\(Q_s=20+10P\\)<\/p>\n<p>Where \\(Q_s\\)=\u00a0quantity supplied, and \\(P\\)=Price<\/p>\n<p>Calculate the quantity supplied if the price of the product is currently $10.<\/p>\n<h4><strong>Solution<\/strong><\/h4>\n<p>Using the function\u00a0\\(Q_s=20+10P\\), substitute\u00a0\\(P=10\\) so that the quantity supplied is:<\/p>\n<p>\\(Q_s=20+10\\times 10=120 \\)\u00a0units<\/p>\n<h2>Supply Function Under Monopoly Markets<\/h2>\n<p>The supply function of a monopoly is purely based on the cost structure of the firm. However, it is important to note that a monopoly does not have a purely defined supply function.<\/p>\n<ul>\n<li>For a competitive firm: P = MR = MC.<\/li>\n<li>However, for a monopoly firm: P &gt; MR = MC.<\/li>\n<\/ul>\n<p>Thus, the optimal output level and price are not determined by any supply curve. Here, the optimal output is based on the output levels that maximize profits. In a monopoly market, profit is maximized when marginal revenue equals marginal cost, i.e., MR=MC.<\/p>\n<h2><strong>Supply Function Under Oligopoly Market<\/strong><\/h2>\n<p>The supply function of oligopolies is also not well-defined. Therefore, the optimal points of an oligopoly cannot be determined without including demand conditions. The strategies of competitors need to be considered.<\/p>\n<p>However, the cost function is useful in determining the optimal supply level. In this case, it still holds that at the optimal points, MR = MC. If a dominant firm exists, it becomes the price maker while the remaining firms are all price takers.<\/p>\n<h3><strong>Example of Supply Function in an Oligopoly Market<\/strong><\/h3>\n<p>Let:<\/p>\n<p>\\(M\\) = price maker<\/p>\n<p>\\(T\\) = price taker<\/p>\n<p>The price maker first identifies its profit-maximizing output \\(MR_M\u00a0= MC_M\\) with an output \\(Q_M\\). Its price will depend on its portion of the total demand \\(D_M\\). When the price is \\(P_M\\), the price maker will supply \\(Q\u00ad_M\\)<sub>\u00a0<\/sub>of the total demand \\(Q_T\\). The price takers will, therefore, supply \\(Q_T-Q_M = Q_F\\).<\/p>\n<p>From the above example, we can conclude that no single function can determine the quantity supplied.<\/p>\n<h2>Supply Function for a Monopolistically Competitive Market<\/h2>\n<p>In this market structure, the supply function is also not well-defined. The appropriate output level is determined by the point where the Marginal Cost and Marginal Revenue curves intersect (MC=MR).<\/p>\n<p>However, it is important to note that the price will be charged in accordance with the demand schedule of the market. The supply curve of a firm should measure the quantity that the firm is willing and able to supply at different price levels. Unfortunately, the marginal revenue and marginal cost do not include this information.<\/p>\n<blockquote>\n<h2><strong>Question<\/strong><\/h2>\n<p>Which forms of market structures have a purely defined supply function?<\/p>\n<p>A.\u00a0Perfect competition<\/p>\n<p>B.\u00a0Perfect competition and monopolistic competition<\/p>\n<p>C. Perfect competition, monopolistic competition, and oligopoly<\/p>\n<p><strong>Solution<\/strong><\/p>\n<p>The correct answer is A.<\/p>\n<p>Only perfect competition has a defined supply function.<\/p>\n<p>Option B is incorrect.\u00a0The supply curve of a firm under monopolistic competition should be able to measure the quantity that the firm is willing and able to supply at different price levels. Unfortunately, the marginal revenue and marginal cost do not include this information.<\/p>\n<p>Option C is incorrect. The supply function of oligopolies is also not well-defined. Therefore, the optimal points of an oligopoly cannot be determined without including demand conditions. The strategies of competitors need to be considered.<\/p>\n<\/blockquote>\n<div class=\"notes_inv\"><hr \/>\n<p><a href=\"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/learning-sessions-curriculum-economics\/\"><em>Economics &#8211; Learning Sessions<\/em><\/a><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>\u00a0 A supply function is a mathematical expression that represents the relationship between the units of quantity of a product or service demanded, its price, and other deterministic factors such as input costs, prices of substitutes, etc. The dependent variable&#8230;<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-714","post","type-post","status-publish","format-standard","hentry","category-economics","blog-post","no-post-thumbnail","animate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Supply Function Across Market Structures | CFA Level 1<\/title>\n<meta name=\"description\" content=\"Explore how supply functions vary across monopoly, oligopoly, monopolistic competition, and perfect competition market structures.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Supply Function Across Market Structures | CFA Level 1\" \/>\n<meta property=\"og:description\" content=\"Explore how supply functions vary across monopoly, oligopoly, monopolistic competition, and perfect competition market structures.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/\" \/>\n<meta property=\"og:site_name\" content=\"AnalystPrep | CFA\u00ae Exam Study Notes\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-10T20:04:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-01-09T13:00:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/cfa-level-1-perfect-competition.png\" \/>\n\t<meta property=\"og:image:width\" content=\"785\" \/>\n\t<meta property=\"og:image:height\" content=\"641\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Brian Masibo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Brian Masibo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/\"},\"author\":{\"name\":\"Brian Masibo\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/224cadd695f477a293f18471cf4e4183\"},\"headline\":\"Firms&#8217; Supply Function Under Different Market Structures\",\"datePublished\":\"2019-10-10T20:04:00+00:00\",\"dateModified\":\"2026-01-09T13:00:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/\"},\"wordCount\":701,\"image\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/cfa-level-1-perfect-competition.png\",\"articleSection\":[\"Economics\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/\",\"url\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/\",\"name\":\"Supply Function Across Market Structures | CFA Level 1\",\"isPartOf\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/cfa-level-1-perfect-competition.png\",\"datePublished\":\"2019-10-10T20:04:00+00:00\",\"dateModified\":\"2026-01-09T13:00:12+00:00\",\"author\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/224cadd695f477a293f18471cf4e4183\"},\"description\":\"Explore how supply functions vary across monopoly, oligopoly, monopolistic competition, and perfect competition market structures.\",\"breadcrumb\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/#primaryimage\",\"url\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/cfa-level-1-perfect-competition.png\",\"contentUrl\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/cfa-level-1-perfect-competition.png\",\"width\":785,\"height\":641},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Firms&#8217; Supply Function Under Different Market Structures\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#website\",\"url\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/\",\"name\":\"AnalystPrep | CFA\u00ae Exam Study Notes\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/224cadd695f477a293f18471cf4e4183\",\"name\":\"Brian Masibo\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2016\/09\/stefan-150x150.png\",\"contentUrl\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2016\/09\/stefan-150x150.png\",\"caption\":\"Brian Masibo\"},\"url\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/author\/brian-masibo\/\"}]}<\/script>\n<meta property=\"og:video\" content=\"https:\/\/www.youtube.com\/embed\/PBMOxv2e3QU\" \/>\n<meta property=\"og:video:type\" content=\"text\/html\" \/>\n<meta property=\"og:video:duration\" content=\"1287\" \/>\n<meta property=\"og:video:width\" content=\"480\" \/>\n<meta property=\"og:video:height\" content=\"270\" \/>\n<meta property=\"ya:ovs:adult\" content=\"false\" \/>\n<meta property=\"ya:ovs:upload_date\" content=\"2019-10-10T20:04:00+00:00\" \/>\n<meta property=\"ya:ovs:allow_embed\" content=\"true\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Supply Function Across Market Structures | CFA Level 1","description":"Explore how supply functions vary across monopoly, oligopoly, monopolistic competition, and perfect competition market structures.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/","og_locale":"en_US","og_type":"article","og_title":"Supply Function Across Market Structures | CFA Level 1","og_description":"Explore how supply functions vary across monopoly, oligopoly, monopolistic competition, and perfect competition market structures.","og_url":"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/","og_site_name":"AnalystPrep | CFA\u00ae Exam Study Notes","article_published_time":"2019-10-10T20:04:00+00:00","article_modified_time":"2026-01-09T13:00:12+00:00","og_image":[{"width":785,"height":641,"url":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/cfa-level-1-perfect-competition.png","type":"image\/png"}],"author":"Brian Masibo","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Brian Masibo","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/#article","isPartOf":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/"},"author":{"name":"Brian Masibo","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/224cadd695f477a293f18471cf4e4183"},"headline":"Firms&#8217; Supply Function Under Different Market Structures","datePublished":"2019-10-10T20:04:00+00:00","dateModified":"2026-01-09T13:00:12+00:00","mainEntityOfPage":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/"},"wordCount":701,"image":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/#primaryimage"},"thumbnailUrl":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/cfa-level-1-perfect-competition.png","articleSection":["Economics"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/","url":"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/","name":"Supply Function Across Market Structures | CFA Level 1","isPartOf":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#website"},"primaryImageOfPage":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/#primaryimage"},"image":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/#primaryimage"},"thumbnailUrl":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/cfa-level-1-perfect-competition.png","datePublished":"2019-10-10T20:04:00+00:00","dateModified":"2026-01-09T13:00:12+00:00","author":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/224cadd695f477a293f18471cf4e4183"},"description":"Explore how supply functions vary across monopoly, oligopoly, monopolistic competition, and perfect competition market structures.","breadcrumb":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/#primaryimage","url":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/cfa-level-1-perfect-competition.png","contentUrl":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/cfa-level-1-perfect-competition.png","width":785,"height":641},{"@type":"BreadcrumbList","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/supply-function-under-different-market-structures\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/analystprep.com\/cfa-level-1-exam\/"},{"@type":"ListItem","position":2,"name":"Firms&#8217; Supply Function Under Different Market Structures"}]},{"@type":"WebSite","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#website","url":"https:\/\/analystprep.com\/cfa-level-1-exam\/","name":"AnalystPrep | CFA\u00ae Exam Study Notes","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/analystprep.com\/cfa-level-1-exam\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/224cadd695f477a293f18471cf4e4183","name":"Brian Masibo","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/image\/","url":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2016\/09\/stefan-150x150.png","contentUrl":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2016\/09\/stefan-150x150.png","caption":"Brian Masibo"},"url":"https:\/\/analystprep.com\/cfa-level-1-exam\/author\/brian-masibo\/"}]},"og_video":"https:\/\/www.youtube.com\/embed\/PBMOxv2e3QU","og_video_type":"text\/html","og_video_duration":"1287","og_video_width":"480","og_video_height":"270","ya_ovs_adult":"false","ya_ovs_upload_date":"2019-10-10T20:04:00+00:00","ya_ovs_allow_embed":"true"},"_links":{"self":[{"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/posts\/714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/comments?post=714"}],"version-history":[{"count":53,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/posts\/714\/revisions"}],"predecessor-version":[{"id":57643,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/posts\/714\/revisions\/57643"}],"wp:attachment":[{"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/media?parent=714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/categories?post=714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/tags?post=714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}