0
A purely competitive seller operates in a perfectly competitive market where many sellers offer identical or very similar products. These sellers have no control over the market price and must accept the prevailing price determined by supply and demand. They focus on efficiency and cost management to remain profitable, as any attempt to raise prices would drive customers to competitors. In this environment, the individual seller's actions have no impact on the overall market.
What else can I help you with?
The labor demand curve of a purely competitive seller perfectly elastic?
yes the demand curve is perfectly inelastic and horizontal
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 purely competitive firm is precluded from making economic profit in the long run because?
it is a price taker
The labor demand curve of a purely competitive seller perfectly elastic?
yes the demand curve is perfectly inelastic and horizontal
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 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
What does the word Pashu mean?
Jealously guarding something that is of no value to yourself driven by a purely competitive nature
In a perfectly free competitive market no buyer or seller has the power to significantly affect the price of a good.?
This is true
If a purely competitive constant-cost industry is realizing economic profits you can expect industry supply to?
Remains the same...
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.
