Economics

posted by .

What are the basic characteristics of pure competition, and the importance of understanding of the pure competitive economic model to the manager of the real world firm.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. economics

    Perfect competition is described at its 1. worst 2. most efficient 3. totally outdated in understanding real economic world or 4. both 1 and 2. Who is describing perfect competition?
  2. economics

    pure monopolies are relatively rare in the real world because a. most goods have close substitutes b. monopolization of market is not profit maximizing c. only publicly owned companies can be pure monopolies d. all of the above?
  3. Sociology

    Please help me on this question. I am very stuck! 1. Prepare a chart which compares the basic characteristics of the pure capitalist and pure socialist economic models. Please help me; compare characteristics of pure capitalist and …
  4. economics

    How does monopolistic competition differ from pure competition in its basic characteristics?
  5. economics

    out of the four economic market models : competitive market, monopoly market, monopolistic competition and oligopolywhich is the best market model and which is the worst
  6. economics

    out of the four economic market models : competitive market, monopoly market, monopolistic competition and oligopoly in your opinion which is the best market model and which is the worst
  7. economics

    A monopoly firm is different from a competitive firm in that A. there are many substitutes for a monopolist's product while there are no substitutes for a competitive firm's product B. a monopolist's demand curve is perfectly inelastic …
  8. Economics

    Describe the demand and marginal revenue curves faced by a firm in a purely competitive market. Are they different from those faced by a firm in oligopolistic competition?
  9. microeconomics

    Using MS Excel or a table in MS Word, complete Table-1 (Joseph Farms, Inc., Cost and Revenue Data). Assume that the price is $165. Assume the fixed costs are $125, at an output level of 1. Assume that the data represents a firm in …
  10. Econ

    Please help me and review my answers for my quiz. Let me know which ones you believe to be right and wrong. 1. When P = AR = MR = AC = MC: X economic profits are positive. economic profits are zero. economic profits are negative. normal …

More Similar Questions