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In general monopolistically competitive frims earn profits?
The general monopolistically competitive firm does earn profit. They earn point about as much as oligopolies.
Does this firm earn positive or negative profits in the short run?
Which firm? If it's above ATC, it's positive. Below it's negative, No ATC? Not enough information is given.ATC=AverageTotal Cost
Explain in detail Price determination under perfect competition?
Price under perfect competition is determined by the forces of demand and supply of the industry. The price once fixed up by the industry is taken up by all the firms and the firm can sell any number of units at hat price.=The firm may earn normal profits, super normal profits in the short run whereas it earns normal profits in the long run.=
A firm jointly owned and run by two or more people who share all profits and losses is a?
A firm jointly owned and run by two or more people who share profits and losses is a partnership.
Why might a firm continue to operate when they are not making profits at the moment?
Profits can fluctuate. Just because a firm is not making a profit at the moment does not mean that they won't be making a profit in the future. Hope springs eternal.
In general monopolistically competitive frims earn profits?
The general monopolistically competitive firm does earn profit. They earn point about as much as oligopolies.
What is a revenue model?
Describes how the firm will earn revenue, generate profits, and produce a superior return on invested capital
Does this firm earn positive or negative profits in the short run?
Which firm? If it's above ATC, it's positive. Below it's negative, No ATC? Not enough information is given.ATC=AverageTotal Cost
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Why monopolistic competition in the short run making profit but in long run it would be break even?
In the short run a monopolistic firm can charge where MR=MC and that will be at a price that gains abnormal profits. They can do this in the short run because firms have a lag before they can be set up. But in the long run, the abnormal profits draw new firms into the industry and so this forces the firm to break even. Any profit at all- in theory- will draw in competitiors as there are limited barriers to entry.
How does a firm create wealth for its owner?
By generating profits.
What is the position of supernormal profits for a firm that is a monopoly?
true
Who has the first claim to the profits and assets of a firm?
Creditors.
Who has the first claim to the profits or assets of a firm?
a - lenders
Explain in detail Price determination under perfect competition?
Price under perfect competition is determined by the forces of demand and supply of the industry. The price once fixed up by the industry is taken up by all the firms and the firm can sell any number of units at hat price.=The firm may earn normal profits, super normal profits in the short run whereas it earns normal profits in the long run.=
The goal of the firm should be?
A firm should focus on providing value to the clients first before making profits. Firms that aim to keep the clients happy will often make more profits.
A firm jointly owned and run by two or more people who share all profits and losses is a?
A firm jointly owned and run by two or more people who share profits and losses is a partnership.
