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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.
Is the concentration ratio in a monopolistically competitive industry likely to be higher than for a perfectly competitive industry?
Yes, the concentration ratio in a monopolistically competitive industry is typically higher than in a perfectly competitive industry. Monopolistic competition involves a few firms that have some degree of market power due to product differentiation, leading to a higher concentration of market share among those firms. In contrast, perfectly competitive industries consist of many firms, each with negligible market power, resulting in a lower concentration ratio.
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.
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.
Is the concentration ratio in a monopolistically competitive industry likely to be higher than for a perfectly competitive industry?
Yes, the concentration ratio in a monopolistically competitive industry is typically higher than in a perfectly competitive industry. Monopolistic competition involves a few firms that have some degree of market power due to product differentiation, leading to a higher concentration of market share among those firms. In contrast, perfectly competitive industries consist of many firms, each with negligible market power, resulting in a lower concentration ratio.
Iron and steel industry is the basic industrywhy?
Iron and steel industry is called basic industry because iron is required in making almost everything .for example vehicles, railway lines etc.
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.
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.
What was the new industry dominated by?
the new industry was dominated by machinery and manufacturing.
Marginal cost equals marginal revenue?
If the firm operates in a perfectly competitive industry, profit is maximised at the ouput level where mc=mr.
What industry was dominated in new England?
duck industry
What will happen to profits and output levels when variable costs rise in a perfectly competitive industry?
When variable costs rise in a perfectly competitive industry, profits will decrease and output levels may decrease as well. This is because higher variable costs reduce the profit margins for firms, leading to lower overall profits. In response, firms may reduce their output levels to maintain profitability.
