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If a firm is selling in an imperfectly competitive product market?
the marginal products of sucessive workers can be sold at a constant price
Why monopsonist hires fewer workers than a firm in competitive labor market?
A monopsonist hires fewer workers than a firm in a competitive labor market because it is the sole buyer of labor, giving it greater market power to set wages. Unlike competitive firms that accept the market wage, a monopsonist must raise wages to attract additional workers, leading to higher marginal costs for hiring. As a result, the monopsonist will hire workers up to the point where the marginal cost of labor equals the marginal revenue product, which typically occurs at a lower quantity of employment compared to competitive firms. This results in a lower overall employment level in the monopsonistic market.
What could not prevent a market from becoming perfectly competitive?
Trade embargos and corruption are factors that could prevent a given market from becoming competitive. These factors usually lead to uneven playing ground as far as the competitiveness of a given market is concerned.
Does the price equal the marginal revenue in a competitive market?
In a competitive market, the price does equal the marginal revenue.
Is cigarette market a perfectly competitive market?
There is no such thing as a perfectly competitive market. It is merely a economic model to compare other market structures to. Cigarette market is more likely a oligopoly.
Describe the role of prices in market economics define the equilibrium of a market descrobe the forces that move a market toward its equlibrium?
Generate a debate about competitive market? How in your opinion a Competitive market can be evolved?
Is marginal revenue equal to price in a perfectly competitive market?
In a perfectly competitive market, marginal revenue is equal to price.
Is the price equal to marginal revenue in a perfectly competitive market?
In a perfectly competitive market, the price is equal to the marginal revenue.
What is Competitive market system?
A competitive market is one that has multiple buyers and sellers. This means there is no single vendor or consumer who has absolute control over the price in the market. In such a market, businesses openly compete for market share.
How are prices set in a perfectly competitive market?
By Market Force
Does marginal revenue equal price in a perfectly competitive market?
Yes, in a perfectly competitive market, marginal revenue equals price.
What is Pepsi's competitive advantage?
According to statistics, in 2010, Pepsi had 11.5% of the global soft drink market.
