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What is true about how a firm in a competitive market decides what level of output to produce in order to maxmize its profit?
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In which market structures do firms produce at the socially optimal level?
Perfectly competitive
Who decides what to produce and how much in Mexico?
Market forces (offer and demand). Mexico is a capitalist country.
Is cigarette market a perfectly competitive market?
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.
What happen if price floor is above equilibrium price?
In a competitive market, it will produce an excess of supply (for the floor price, supply is bigger than demand)
Describe the role of prices in market economics define the equilibrium of a market descrobe the forces that move a market toward its equlibrium?
Generate a debate about competitive market? How in your opinion a Competitive market can be evolved?
What type of market is one in which producers compete to produce better and more affordable products and services?
competitive market (A+)
In which market structures do firms produce at the socially optimal level?
Perfectly competitive
Who decides what to produce and how much in Mexico?
Market forces (offer and demand). Mexico is a capitalist country.
Is cigarette market a perfectly competitive market?
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.
What happen if price floor is above equilibrium price?
In a competitive market, it will produce an excess of supply (for the floor price, supply is bigger than demand)
Describe the role of prices in market economics define the equilibrium of a market descrobe the forces that move a market toward its equlibrium?
Generate a debate about competitive market? How in your opinion a Competitive market can be evolved?
How are prices set in a perfectly competitive market?
By Market Force
What is Competitive market system?
A competitive market is one that has multiple buyers and sellers. This means there is no single vendor or consumer who has absolute control over the price in the market. In such a market, businesses openly compete for market share.
Who decides what is produced in a market economy?
Entrepreneurs
What is the incidence of corporate tax in an imperfectly competitive market graphhically and mathematically?
what is the incidence of corporate tax in an imperfectly competitive market graphically and mathematically?
List and describe the characteristics of a perfectly competitive market?
There are multiple characteristics which correspond to an ideally competitive market. These are a rule of law and contracts enforcement, competition through multiple merchants, market integrity against anti-competitive behaviors, and consumer confidence.
What are the example of short period local perfectly competitive market?
poultry market rice market
