there are many producers selling the same products at similar prices.
A monopoly has one producer in a market and duopoly has two.
In a competitive market, the price does equal the marginal revenue.
It is hard to find profitable project.High profits in product market attract competitors.competitors put downward pressure on prices and profits.
There is no such thing as a perfectly competitive market. It is merely a economic model to compare other market structures to. Cigarette market is more likely a oligopoly.
many firms will earn profits in the short term, but they must constantly innovate and compete to earn profits in the long term
It is a market driven by reasonable market prices that satisfy the needs of the customer.
Essentially, administered price is referring to a price determined by the conscious price policy of a seller rather than by impersonal competitive market forces. The earliest known use of the term administered price was in 1934.
A monopoly has one producer in a market and duopoly has two.
market portion. Lets say real estate was the market and you specialize in unit developments then your market segment would be unit developments
In a competitive market, the price does equal the marginal revenue.
It is hard to find profitable project.High profits in product market attract competitors.competitors put downward pressure on prices and profits.
There is no such thing as a perfectly competitive market. It is merely a economic model to compare other market structures to. Cigarette market is more likely a oligopoly.
many firms will earn profits in the short term, but they must constantly innovate and compete to earn profits in the long term
Generate a debate about competitive market? How in your opinion a Competitive market can be evolved?
where a group of businesses come together in a place to buy and sell items or it can also be a customer
In a perfectly competitive market, marginal revenue is equal to price.
In a perfectly competitive market, the price is equal to the marginal revenue.