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What else can I help you with?
What does monopolistic competition and perfect competition have in common?
they maximize profit
What is the condition to get maximum profit of a firm in perfect competition?
Mr=mc
What Factors determine profit and losses?
Whether the business has lots of competition, has a high sales revenue.
Four fundamental factors of free enterprise?
Private ownership Individual Initiative Profit Competition
When monopolistic competition is compared to perfect competition what can you generally expect with reguard to price output and profit?
We can expect that prices are higher, output is less, and profits are high er.
What does monopolistic competition and perfect competition have in common?
they maximize profit
What is the condition to get maximum profit of a firm in perfect competition?
Mr=mc
Which is the main difference between perfect competition and monopolistic competition?
In monopolistic competition, sellers can profit from the differences between their products and other products.
Use examples to show the difference in the profit maximization goal of perfect competition and monopoly?
Shut
What are the four factors underlying the free enterprise system?
There are four factors underlying a free enterprise system. They include private ownership of property, competition between businesses, individual initiative, and profit.
What Factors determine profit and losses?
Whether the business has lots of competition, has a high sales revenue.
What are four factors of free enterprise system?
private ownership, individual initiative, profit, and competition
Four fundamental factors of free enterprise?
Private ownership Individual Initiative Profit Competition
When monopolistic competition is compared to perfect competition what can you generally expect with reguard to price output and profit?
We can expect that prices are higher, output is less, and profits are high er.
What are the four factors that make up the free enterprise system?
# Private ownership # individual initiative, # profit # competition
How does a perfect market influence output?
Each firm adjusts its output so that its cost, including profit, are covered.
In perfect competition market When the firm do the profit arise?
it arise if minimum scale of a single producer is small relative to the demand for the good or service
