in a perfectly competitive industry
perfectly competitive industry become a monopoly, what changes
the adult film industry
No. There is no perfectly competitive market in real life.
A perfectly competitive market has many competitors. There is no one competitor that has more say in product prices within the industry.
If the firm operates in a perfectly competitive industry, profit is maximised at the ouput level where mc=mr.
perfectly competitive industry become a monopoly, what changes
perfectly competitive industry become a monopoly, what changes
the adult film industry
No. There is no perfectly competitive market in real life.
Iron and steel industry is called basic industry because iron is required in making almost everything .for example vehicles, railway lines etc.
A perfectly competitive market has many competitors. There is no one competitor that has more say in product prices within the industry.
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.
the new industry was dominated by machinery and manufacturing.
If the firm operates in a perfectly competitive industry, profit is maximised at the ouput level where mc=mr.
duck industry
$1.25.
me