Notes Class XI Microeconomics Chapter 4 The Theory of the Firm Under Perfect Competition

The Class 11 Microeconomics Notes for Chapter 4: The Theory of the Firm Under Perfect Competition provide a thorough understanding of the market structure and behavior of firms in perfect competition. These notes cover essential topics such as the features of perfect competition, revenue concepts (total, average, and marginal revenue), profit maximization, and the equilibrium of a firm and industry in the short and long run. Detailed explanations, well-labeled diagrams, and real-life examples make these notes an effective learning tool. Designed as per the CBSE syllabus, these notes focus on building a strong foundation in microeconomics, making them ideal for both exam preparation and quick revision.