0
What would you ask if you wanted to know the price of fruit at the market?
Wiki User
∙ 8y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Why would a firm in a perfectly competitive market always choose to set its price equal to the current market price?
Because if it set its price higher than the current market price, it would not sell anything; and if it set its price lower than the current price, it would sell all of its product, but it would not make an economic profit. Understand, however, that this does not happen in real life, because in real life, there is no such thing as a perfectly competitive market.
What will happen to market price if demand decrease?
If the demand decreases, market price would go down. IN DETAIL: Demand is a rightward sloping downwards curve. Supply is a rightwards ascending curve. If you plot a graph of both, where the horizontal axis shows the quantity demanded by the market, and vertical axis shows the market price, the intersection of the demand and supply curve would give you the market price. A decrease in demand would mean a leftward shift in the demand curve, causing the intersection point of of the two curves to be lower than the previous one, which means at a point that shows a lower price. So the market price would decrease.
Why price ceiling and price floor is binding?
A price ceiling is binding when it is below the equilibrium price. It is the legal maximum price, so the market wants to reach equilibrium (which is above that) but can't legally. If it were above the equilibrium price it would not be binding because the market would reach equilibrium and the ceiling would have no effect. A price floor is binding when it is above the equilibrium price. You can use similar reasoning to that above. It is the legal minimum price. the market wants to reach equilibrium below that but can't legally.
What sets prices in a perfect market?
market conditions are responsible for price setting, as thing in perfect market are homogeneous, any different product with special feature would have a high price for it .
Evaluate price and output determination under imperfect market structure?
Would it not be a Monopolistic with imperfect market structure
What would you compare a fruit market to?
A wonderful smorgasbord.
What is the Price of fruit?
The question is what fruit are you looking for because nobody can write down what the price of every single fruit is anyway the price of fruit can be different to where you go and also by the time you read this the price of fruit would/may have gone up or down so that is a completely SqTqUqPqIqD question. Cool.
Why would a firm in a perfectly competitive market always choose to set its price equal to the current market price?
Because if it set its price higher than the current market price, it would not sell anything; and if it set its price lower than the current price, it would sell all of its product, but it would not make an economic profit. Understand, however, that this does not happen in real life, because in real life, there is no such thing as a perfectly competitive market.
How would you use market in a sentence?
John's mother buys all the necessary fruit and vegetables from the market on Saturday.
What will happen to market price if demand decrease?
If the demand decreases, market price would go down. IN DETAIL: Demand is a rightward sloping downwards curve. Supply is a rightwards ascending curve. If you plot a graph of both, where the horizontal axis shows the quantity demanded by the market, and vertical axis shows the market price, the intersection of the demand and supply curve would give you the market price. A decrease in demand would mean a leftward shift in the demand curve, causing the intersection point of of the two curves to be lower than the previous one, which means at a point that shows a lower price. So the market price would decrease.
Why price ceiling and price floor is binding?
A price ceiling is binding when it is below the equilibrium price. It is the legal maximum price, so the market wants to reach equilibrium (which is above that) but can't legally. If it were above the equilibrium price it would not be binding because the market would reach equilibrium and the ceiling would have no effect. A price floor is binding when it is above the equilibrium price. You can use similar reasoning to that above. It is the legal minimum price. the market wants to reach equilibrium below that but can't legally.
What sets prices in a perfect market?
market conditions are responsible for price setting, as thing in perfect market are homogeneous, any different product with special feature would have a high price for it .
What are some things you would find in a market in Renaissance Venice?
you would find lots of fruit and breads
Explain why a niche company might have an advantage in a market Would price necessarily be an advantage Explain why or why not?
Explain why a niche company might have an advantage in a market would price necessarily be an advantage explain why or why not
How do you calculate 'closing stock?
Cost price (Purchase price) or market price whichever is less that would be taken as Closing Stock
How do calculate closing stock?
Cost price (Purchase price) or market price whichever is less that would be taken as Closing Stock
Where can I find a good price on a Env touch battery?
ENV touch batteries are pretty new on the market. If you wanted to get one, you would need to go to the manufacturer. You could also get a used one from eBay.
