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Perfect Competition
Page 2
Questions (94)
Suppose thatsome firms in a perfectly competitive industry are incurring negative economic profits. In the long run, the
a
2 answers
asked by
Angelique
575 views
A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $10,
4 answers
asked by
Pam
1,752 views
a market in no one controls the prices is called
1 answer
asked by
bettyrobinson
281 views
If at least 1 of the conditions for a perfectly competitive market is not met, does this invalidate the model of perfect
1 answer
asked by
Irma
467 views
If all firms in an industry are price-takers, then ______.
2 answers
asked by
Anonymous
560 views
In a perfect competitive market, industry demand is P = 850 – 2Q, and industry supply is P = 250 + 4
2 answers
asked by
Dinish
857 views
Individuals in a market who must take the market price as given are
1 answer
asked by
Anonymous
284 views
If all assumptions of perfect competition hold, why would firms in such industry have little incentive to carry out
1 answer
asked by
Anonymous
408 views
Do Perfectly Competitive Firms earn normal profits?
3 answers
asked by
anonymous
517 views
What can't a perfectly competitive market earn economic profits in the long run?
3 answers
asked by
Teri
571 views
If all the assumptions of perfect competition hold, why would firms in such an industry have little incentive to carry out
2 answers
asked by
Linda
1,106 views
Suppose that Keystone is a firm in perfectly competition ski resort business. If all Keystone’s input price unexpectedly
3 answers
asked by
Anonymous
528 views
A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an identical cost
3 answers
asked by
adele
1,033 views
If firms in perfect competition all pay the same price for resources and all receive the same price for outputs, how can they
1 answer
asked by
David
363 views
When firms in a perfectly competitive market face the same costs, in the long run they must be operating:
A) Under diseconomis of
2 answers
asked by
G
1,262 views
perfectly competitive industry. Each firm having identical cost structures. long-run average cost is minimized at an output of
4 answers
asked by
timmy
1,382 views
A firm that is perfectly competitve will continue to hire factor units as long as:
a. MRP < MFC b. MRP > MFC c. VMP < MFC d. MC >
1 answer
asked by
sheila
705 views
Perfect competition is described at its 1. worst 2. most efficient 3. totally outdated in understanding real economic world or
1 answer
asked by
kustudent
474 views
Identify and discuss THREE features which could be used in determining if a company operates in a perfect competition.
1) The
1 answer
asked by
Simone
421 views
In long-run equilibrium, the perfectly competitive firm's price is equal to which of the following:
short-run marginal cost
1 answer
asked by
Jake
1,219 views
Okay, this is due Tuesday. I'm woking on it but if anyone can help that would be great!
Suppose firm A opeates in a perfectly
1 answer
asked by
Trisha
1,134 views
The horizontal demand curve for a firm in perfectly competitive market structure implies what??
1 answer
asked by
Those who want to be...
48 views
is the horizontal demand curve for a firm in perfectly competitive market structure implies demand is perfectly inelastic?
why??
1 answer
asked by
Those who want to be...
50 views
Is a firm operating in perfect market maximizes its peofit by adjusting its output until its marginal cost equal to output price
1 answer
asked by
Those who want to be...
58 views
Consider the diagram at right, which applies to a perfectly competitive firm, which at present faces a market clearing
7 answers
asked by
AOL
57 views
Wrong! The correct answer is-->This firm is perfectly competitive, so its output rate is so small in relation to the industry
1 answer
asked by
APL
48 views
QUESTION 2 [25 marks]
Discuss how a perfectly competitive market determines its equilibrium price and quantity in the short run
1 answer
asked anonymously
55 views
Which of the following is true of a perfectly competitive firm?
Question 4 options: A) The firm is a price maker. B) If the firm
1 answer
asked by
uosagp
54 views
A perfectly competitive firm in the short-run can earn:
Question 5 options: A) positive economic profits. B) negative economic
1 answer
asked by
uosagp
45 views
If all the assumptions of perfect competition hold, why would firms in such an industry have little incentive to carry out
1 answer
asked by
raja
470 views
List and explain assumptions of a perfect competition
1 answer
asked anonymously
37 views
In a market market for milk, it is easy for new businesses to enter the market since there are no new barriers to entry. Prices
1 answer
asked anonymously
32 views
In the market for strawberries, individual firms face no Barrie’s to entry, steel a homogeneous product, and have no control
1 answer
asked anonymously
38 views
The demand curve faced by firms in a perfectly competitive market is horizontal to reflect that_____. (1 point)
A. Individual
1 answer
asked by
Market Structure Quick Check
37 views
In a perfectly competitive market, how does an increase in the price of a substitute product affect the demand for the original
1 answer
asked by
Mercy has a price
20 views
In a perfect competitive market, the level of short run and long run economic profits are determined by. What?
5 answers
asked by
Raven
20 views
In a perfect market, how will the entry of new firms in the industry affect the price level charged by individual firms? Explain
7 answers
asked by
Raven
27 views
The Paraguayan edible sock market is perfectly competitive and has market demand that
can be represented by the equation P = 200
1 answer
asked by
Saira Alavi
27 views
Use the table to answer the question.
# of Workers Output Fixed Cost ($) Variable Cost ($) Total Revenue ($) 0 0 100 - - 10 300
1 answer
asked anonymously
18 views
In Exhibit 8-15, suppose the market price of mowing lawns falls to R10 per lawn. In this situation, E-Z-Care will:
permanently
1 answer
asked anonymously
3 views
Under perfect competition, no matter how much output is produced, the total revenue curve is:
1 answer
asked anonymously
8 views
Under perfect competition, no matter how much output is produced, the total revenue curve is:
a positively-sloped line. a
1 answer
asked anonymously
7 views
A perfectly competitive firm will shut down in the short run when marginal revenue equals marginal cost at a price less than
1 answer
asked anonymously
19 views
in long-run equilibrium, a perfectly competitive firm's short-run marginal cost curve crosses the long-run average cost curve at
1 answer
asked anonymously
12 views
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Parent Categories (6)
Economics
Industrial Organization
Market
Market Structure
Market structures
Microeconomics