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What about a perfectly competitive market are true you The perfectly competitive industry faces an upward-sloping labor supply curve II The individual firm in a perfec?
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Is service and quality likely to be better in an industry dominated by a monopoly or in a perfectly competitive industryWhy?
in a perfectly competitive industry
One difference between a perfectly competitive firm and a monopoly is that a perfectly competitive firm produces where?
perfectly competitive industry become a monopoly， what changes
What business or industry is most likely to be found in a perfectly competitive market?
the adult film industry
Is peanut industry perfect competition?
No. There is no perfectly competitive market in real life.
Characteristics of perfect competitive market?
A perfectly competitive market has many competitors. There is no one competitor that has more say in product prices within the industry.
Is service and quality likely to be better in an industry dominated by a monopoly or in a perfectly competitive industryWhy?
in a perfectly competitive industry
What will happen if an individual perfectly competitive firm charges a price above the industry equilibrium price?
If an individual in a perfectly competitive firm charges a price above the industry equilibrium price this is bad. This company will go out of business quickly because their customers will go find the lower price.
One difference between a perfectly competitive firm and a monopoly is that a perfectly competitive firm produces where -?
perfectly competitive industry become a monopoly， what changes
One difference between a perfectly competitive firm and a monopoly is that a perfectly competitive firm produces where?
perfectly competitive industry become a monopoly， what changes
What business or industry is most likely to be found in a perfectly competitive market?
the adult film industry
Is peanut industry perfect competition?
No. There is no perfectly competitive market in real life.
Characteristics of perfect competitive market?
A perfectly competitive market has many competitors. There is no one competitor that has more say in product prices within the industry.
In a perfectly competitive market while an industry is a price maker an individual firm is a price taker elaborate?
An industry is a price maker because many companies compete and the market dictates the price. Companies are price takers because they can't set the prices. Organizations have to focus on keeping cost low.
Marginal cost equals marginal revenue?
If the firm operates in a perfectly competitive industry, profit is maximised at the ouput level where mc=mr.
Suppose that the pen-making industry is perfectly competitive. Also suppose that each current firm and any potential firms that might enter the industry all have identical cost curves with minimum AT?
$1.25.
What is a purely competitive industry?
Firms are price takers, price is equal to marginal costs, demand is perfectly elastic, i.e. constant and horizontal, the firms makes zero economics profits.
What is the world's most competitive industry?
IT
