Saturday
April 18, 2015

Homework Help: Microeconomics

Posted by Jarmisha on Thursday, June 29, 2006 at 5:09pm.

Explain in detail why profit-seeking businesses have incentive to use resources efficiently. How does your explanation fit into the idea of "the invisible hand of the market?"


If one has competition, then you have to reduce costs (or go out of business). The goal it to increase profit (revenue minus costs).

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

microeconomics - i have to write a paper for a final and need some help with ...
microeconomics - Most commercial fish species in nearly every ocean and sea are ...
microeconomics - monopoly vs perfect competition - hi, can sum1 help me? wats ...
English - could someone explain this quote please? I have the idea but my words ...
microeconomics - Using MS Excel or a table in MS Word, complete Table-1 (Joseph ...
statistics - Nownes (2000) surveyed representatives of interest groups who were ...
Social Studies - The interaction of private companies trying to make the ...
economics - You’re the manager of global opportunities for a U.S. manufacturer, ...
Microeconomics - monopoly vs perfect competition - This is a good and fun ...
physics - A farm boy studying physics believes that he can fit a 15.0 m long ...

Members