0
What else can I help you with?
The representative firm in a purely competitive industry?
will
Profits encourage entry into purely competitive industries and losses encourage exit from purely competitive industries because?
When profits are zero, the firm is earning sufficient revenue to cover the opportunity cost.
In long run equilibrium a purely competitive firm will operate where price is?
nn
Is computer operating systems an example of pure competition near monopoly monopolistic competition oligopoly?
Computer operating systems primarily exhibit characteristics of an oligopoly. A few dominant firms, such as Microsoft and Apple, control a significant share of the market, leading to limited competition. While there are alternatives available, the high barriers to entry and the established brand loyalty make it difficult for new competitors to gain substantial market share. Thus, the operating system market is not purely competitive or monopolistically competitive, but rather an oligopolistic one.
A purely competitive firm is precluded from making economic profit in the long run because?
it is a price taker
The representative firm in a purely competitive industry?
will
Profits encourage entry into purely competitive industries and losses encourage exit from purely competitive industries because?
When profits are zero, the firm is earning sufficient revenue to cover the opportunity cost.
In long run equilibrium a purely competitive firm will operate where price is?
nn
A firm operating in a purely competitive resource market faces a resource supply curve that is?
B. Perfectly elastic This is because it is operating in a perfect competitive market
A purely competitive firm is precluded from making economic profit in the long run because?
it is a price taker
What does the word Pashu mean?
Jealously guarding something that is of no value to yourself driven by a purely competitive nature
What market characteristics suggests that purely competitive firms have only weak incentives to innovate?
Economies of scale
In the long run in a purely competitive industry entry and exit of firms can occur. True Or False?
True
If a purely competitive constant-cost industry is realizing economic profits you can expect industry supply to?
Remains the same...
The labor demand curve of a purely competitive seller perfectly elastic?
yes the demand curve is perfectly inelastic and horizontal
What are the styles of negotiation?
Two styles of negotiating, competitive and cooperative, are commonly recognized. No negotiation is purely one type or the other.
Why can price be substituted for marginal revenue in the MR equals MC rule?
It can be substituted because the industry would become purely competitive.
