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In a perfectly competitive market, price (P) equals marginal revenue (MR) and marginal cost (MC) at the profit-maximizing output level. Firms will continue to produce until the cost of producing an additional unit (MC) matches the revenue gained from selling that unit (MR). At this point, firms maximize their profits, and if P equals MR and MC, it indicates that firms are operating efficiently in the market.
What else can I help you with?
What actors and actresses appeared in The Seduction of Mr. P - 2010?
The cast of The Seduction of Mr. P - 2010 includes: Elizabeth Brissenden as Justine Robert Factor as Mr. P
Who all dies in the novel in Dracula?
- Mr. Swales - Mr. Hawkins - the crew of the ship ´Demeter´ - Quincey P. Morris - Count Dracula - the three female vampires
What does lee welch think fluffy is guarding?
mr ramsden, ha ha ha that's my headteacher................ :P
What is a hex code for Pokemon diamond action replay codes?
The hex code gives you items.I dont know the code but u can look it up. Wonnetz Phanthavong
Dose Zac Efron have a child?
No he dose not have a child if he did it would be on the front on a magazine! some people say that it's true but it's not! :P :P :P :P :P :P :P :P :P :P :P :P :P :P :P :P!!!! xx
When p equals ar equals mr equals ac equals mc?
When price (p), average revenue (ar), marginal revenue (mr), average cost (ac), and marginal cost (mc) are equal, a firm is in a state of long-run equilibrium in perfect competition. In this scenario, the firm earns normal profits, as total revenue equals total cost, and there is no incentive for firms to enter or exit the market. This equality indicates that firms are maximizing their profits while producing at the most efficient scale. Consequently, resources are allocated efficiently in the market.
If a firm can maximize its profit by producing output where price is equal to its marginal cost in which type of market is the firm operating?
The firm is operating in Perfect markets. In perfect markets (Perfect competitions), the firm can maximize its profit when its MC is equal with its MR. And in perfect markets, usually the following condition is true: (MR = AR = P). So, in equilibrium which is also the profit maximizing point for a firm, the following condition is a must: MR = AR = P = MC.
What are the differences between technical efficiency and economic efficiency?
•Technical efficiency. A firm (or industry) products at lowest point where AC crosses MC.•Allocativeefficiency. P = MC = MR. Satisfaction is represented by demand curve. DD = SS. Equilibrium.
Explain why the P equals MC rule is the same as the MR equals MC rule for perfectly competitive firms?
Perfectly competitive firms are price takers. This means that they can sell as much or as little as they want, but only at the going market price. When this happens, the market price is the same as their marginal revenue. Thus, P=MC is the same as P=MR.
What block is Ar in the Periodic Table of the Elements?
the AR lies in P-block
Why is the marginal revenue curve the same as its demand curve?
The marginal revenue curve describes the incremental change in revenue (that is, price*units sold). The MR is not always equivalent to its demand curve. The more perfect competition is, the closer demand approaches the MR. This is because, in perfect competition, firms sell at the MC = MR = P criterion. In the opposite case, monopoly, MR always lies under of demand, and firms achieve monopoly profits by choosing a production quantity where MC = MR and charging a price mark-up.
A and b are events with complements ac and bc and if p of a is point 3 and p of b is point 5 find p of ac and bc?
The probability of ac and bc is 1/5.
Master p is broke like mc hammer?
yes
Q 5th term of a GP is 2 then product of its 9 terms is?
I'll try to answer the question, "If the 5th term of a geometric progression is 2, then the product of its FIRST 9 terms is --?" Given the first term is A and the ratio is r, then the progression starts out... A, Ar, Ar^2, Ar^3, Ar^4, ... So the 5th term is Ar^4, which equals 2. The series continues... Ar^5, Ar^6, Ar^7, Ar^8, ... Ar^8 is the 9th term. The product P of all 9 terms is therefore: P = A * Ar * Ar^2 *...*Ar^8 Collect all the A's P = (A^9)*(1 * r * r^2 ...* r^8) P = A^9 * r^(0+1+2+...+8) There's a formula for the sum of the first n integers (n/2)(n+1), or if you don't know just add it up. 1+2+...+8 = 36 Therefore P = A^9 * r^36 Since 36 is a multiple of 9, you can simplify: P = (Ar^4)^9 Still with me? Remember that Ar^4=2 (a given fact). So finally P = 2^9 = 512. Cute problem.
What if AR ds is not working?
Then get a new one :P
How do you pronounce magikrap?
ma-gic-ar-p
When was Mr. P - album - created?
Mr. P - album - was created on 2011-04-15.
