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If perfect competition existed everywhere along with frictionless exchange perfect information and constant returns to scale?
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Why is price per unit equal to the average revenue and marginal revenue of a firm under perfect competition?
Under Perfect competition , Marginal revenue is constant and equal to the prevailing market price, since all units are sold at the same price. Thus in pure competition MR = AR = P.
Economic profits result whenever only a few large competitors are active in a given market?
This statement is not true, and reflects a simplistic view of the link between the number of competitors and the vigor of competition. Holding buyer power constant, competition can sometimes be fierce in markets that involve only a handful of competitors. Similarly, markets involving several competitors may have little or no effective competition. For example, despite the fact that there are relatively few providers of general aviation equipment, competition for new plane orders is often fierce and suppliers seldom earn above-normal profits. On the other hand, textile and agricultural markets involve thousands of competitors that are sometimes sheltered from import competition by trade barriers and government price support programs. To accurately assess the vigor of competition in any given market, one must carefully analyze market structure (including the number and size distribution of competitors), competitor behavior and industry performance.
What is the velocity of money if the nominal interest rate is constant?
If the nominal interest rate is constant, then PY is constant in the equation PY = MV, so V will remain constant so long as money supply does not change.
WHY under perfect competition AR equals MR?
In a perfect competition, a firm can sell any amount of output at a given market price. It means firm's additional revenue(MR) from the sale of every additional unit of the commodity will be just equal to the market price (i.e. AR). Hence average revenue and marginal revenue become equal (AR=MR) and constant in that situation. Consequently the AR and MR curve will be same and would be horizontal or parallel to the x-axis.
What is a constant production?
A CONSTANT PRODUCTION IS WHEN YOU MAKE SOMETHING NONE STOP. YOU JUST KEEP MAKEING IT
During the swing of a frictionless pendulum what energy forms remain constant?
The sum of potential + kinetic energy.
If a cart is observed moving at a constant velocity along a horizontal frictionless track is there a constant net force acting on it in the direction of motion?
No force is acting on it. Constant velocity means no acceleration, which means no force, from f=ma, no 'a' no force.
What is the meaning of universal values?
It is a constant for everywhere everytime
Why 'G'is called universal gravitational constant?
Gravitational because it is related to gravity; universal because it is expected to apply everywhere; constant because it is expected to be the same everywhere.
What forces act on a frictionless air puck as it moves across a table at constant speed in a straight line?
Gravith pulls it down; table pushes it up.
If A 70 kg cart is pushed for 50 m with a constant velocity upon a 45º frictionless incline Find the work done on the cart?
700x50 joules
Why is mass measured by spring balance is not constant everywhere?
because
If you slide a hockey puck across a frictionless ice rink these must be a horizontal force on it too keep it in the motion?
F=ma constant speed would mean 'a' acceleration is zero thus force zero. The puck would be in equilibrium, and the force would be zero at constant motion. Constant motion is constant velocity including the constant zero velocity.
Where is time?
time is a constant, therefore it is everywhere at anytime in all places
Does the weight of the body remains constant everywhere in the universe?
no it does not remain contant.
Is it possible for a car to move at a constant speed when it's engine is off?
no. It will slow down because there is nothing to power it to keep it going... unless it is on a frictionless surface, which is not possible on Earth
IS the gravitaional constant of moon is same as earth?
Yes. All astronomical observations to date suggest that the gravitational constant is literally a universal constant ... the same everywhere in the universe.
