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One difference between a perfectly competitive firm and a monopoly is that a perfectly competitive firm produces where?
perfectly competitive industry become a monopoly， what changes
Can a perfectly competitive firm set a price for its products that is above marginal cost?
A perfectly competitive firm would set its prices at a perfectly competitive price.
The representative firm in a purely competitive industry?
will
What are the sources of the firm's market power?
The source of a firm's market power is its competitive advantage. When a business has a competitive advantage they can use that to make significant changes in the industry.
If a firm is selling in an imperfectly competitive product market?
the marginal products of sucessive workers can be sold at a constant price
One difference between a perfectly competitive firm and a monopoly is that a perfectly competitive firm produces where -?
perfectly competitive industry become a monopoly， what changes
One difference between a perfectly competitive firm and a monopoly is that a perfectly competitive firm produces where?
perfectly competitive industry become a monopoly， what changes
Can a perfectly competitive firm set a price for its products that is above marginal cost?
A perfectly competitive firm would set its prices at a perfectly competitive price.
The representative firm in a purely competitive industry?
will
What are the sources of the firm's market power?
The source of a firm's market power is its competitive advantage. When a business has a competitive advantage they can use that to make significant changes in the industry.
Is Apple Computer a perfectly competitive firm?
yes
If a firm is selling in an imperfectly competitive product market?
the marginal products of sucessive workers can be sold at a constant price
If a perfectly competitive firm's price is above its average total cost the firm?
is earning a profit
How are a monopolistic firm and a competitive firm similar?
Monopoly means that there are no competitor for your product or servises
Where does competitive advantage come from?
Competitive advantage can come from products, employees and operations. When a firm has a competitive advantage, they are able to operate as a leader within their industry.
Are the heel of real ugg boots meant to be firm or squishy?
firm
Should a monopolistically competitive firm take into account it's fixed costs when deciding how much to produce?
No. A monopolistically competitive firm should produce up to the point where marginal revenue equals marginal cost.
