Monopoly is complete control i.e. buying all compeitors and suppliers, while plain compeition is an example of darwinism where the strongest survive but the compeition causes the prices to remain relatively low because companies want to sell their goods.
will
When profits are zero, the firm is earning sufficient revenue to cover the opportunity cost.
nn
True
Economies of scale
will
When profits are zero, the firm is earning sufficient revenue to cover the opportunity cost.
nn
B. Perfectly elastic This is because it is operating in a perfect competitive market
True
Jealously guarding something that is of no value to yourself driven by a purely competitive nature
it is a price taker
Economies of scale
Remains the same...
yes the demand curve is perfectly inelastic and horizontal
Two styles of negotiating, competitive and cooperative, are commonly recognized. No negotiation is purely one type or the other.
It can be substituted because the industry would become purely competitive.