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What factors determine the equilibrium price and quantity for a perfectly competitive firm in the long run?
In the long run, the equilibrium price and quantity for a perfectly competitive firm are determined by factors such as production costs, market demand, and competition from other firms. The firm will adjust its output level until it reaches a point where marginal cost equals marginal revenue, resulting in an equilibrium price and quantity.
How does the concept of reversibility explain the establishment of equilibrium?
Equilibrium is a state of balance. When one factor increases, it would also be necessary for an opposing factor to increase to maintain balance. Reversibility allows for the decrease of factors to maintain this level.
How is economic profit determined and what factors contribute to its calculation?
Economic profit is determined by subtracting all explicit and implicit costs from total revenue. Factors that contribute to its calculation include production costs, opportunity costs, and the competitive environment.
What factors contribute to the sustainability of positive economic profits in a perfectly competitive market?
In a perfectly competitive market, factors that contribute to the sustainability of positive economic profits include efficient production processes, low production costs, high demand for goods or services, and barriers to entry that prevent new competitors from entering the market easily. Additionally, innovation and differentiation can help companies maintain a competitive edge and sustain profits over time.
Explain how equilibrium in international market can be achieved and what factors can influencing its equilibrium?
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What factors contribute to the establishment of a homogeneous equilibrium in a chemical reaction system?
The factors that contribute to the establishment of a homogeneous equilibrium in a chemical reaction system include the concentration of reactants and products, temperature, pressure, and the presence of a catalyst. These factors influence the rates of the forward and reverse reactions, ultimately leading to a state where the concentrations of reactants and products remain constant over time.
What factors contribute to maintaining equilibrium in a system when considering the matter involved?
Factors that contribute to maintaining equilibrium in a system with matter include the balance of inputs and outputs, the presence of feedback mechanisms, and the stability of the system's components.
What factors contribute to maintaining kinetic equilibrium in a system?
Factors that contribute to maintaining kinetic equilibrium in a system include the balance of forces acting on the objects within the system, the absence of external forces, and the conservation of momentum.
What factors contribute to maintaining a seesaw equilibrium in a physical system?
Factors that contribute to maintaining a seesaw equilibrium in a physical system include the distribution of weight on each side of the seesaw, the distance of the weight from the pivot point, and the force applied to each side.
What factors determine the equilibrium price and quantity for a perfectly competitive firm in the long run?
In the long run, the equilibrium price and quantity for a perfectly competitive firm are determined by factors such as production costs, market demand, and competition from other firms. The firm will adjust its output level until it reaches a point where marginal cost equals marginal revenue, resulting in an equilibrium price and quantity.
How does the concept of reversibility explain the establishment of equilibrium?
Equilibrium is a state of balance. When one factor increases, it would also be necessary for an opposing factor to increase to maintain balance. Reversibility allows for the decrease of factors to maintain this level.
What factors contribute to the small business survival rate in today's competitive market?
Factors that contribute to the survival rate of small businesses in today's competitive market include effective financial management, strong customer relationships, innovation and adaptability, a clear business strategy, and a skilled and motivated workforce.
What are the factors that influence the health equilibrium?
the factors that affect the health equilibrium is the
What factors contribute to achieving spring equilibrium in a mechanical system?
Achieving spring equilibrium in a mechanical system is influenced by factors such as the stiffness of the spring, the mass of the object attached to the spring, and the force applied to the system. These factors work together to balance the forces acting on the system and reach a stable position.
What factors contribute to a lower reduction potential in chemical reactions?
Factors that contribute to a lower reduction potential in chemical reactions include the presence of electron-donating groups, a higher oxidation state of the reactant, and a less favorable reaction equilibrium.
How is economic profit determined and what factors contribute to its calculation?
Economic profit is determined by subtracting all explicit and implicit costs from total revenue. Factors that contribute to its calculation include production costs, opportunity costs, and the competitive environment.
What factors contribute to the maintenance of a steady state equilibrium in a dynamic system?
In a dynamic system, factors like feedback mechanisms, self-regulation, and external influences help maintain a steady state equilibrium by adjusting and balancing the system's components to counteract any disturbances or changes.
