Thus, the company faces a downward sloping demand curve and highly elastic demand. An increase in price will result in fewer units sold. Wudden Floss is an example of a price taker operating in a purely competitive market. Thus, the firm faces a horizontal demand curve and perfectly elastic dema...
A firm in a perfectly competitive market will tend to expand its output as long as:() A. its marginal revenue is positive. B. the market price is greater than the marginal cost. C. its marginal revenue is greater than the market price. 点击查看答案&解析手机看题 单项选择题 A competitive...
Assume that the market for gas stations is characterized by many firms, differentiated products, easy entry, and easy exit. For the typical gas station, the profit-maximizing price would be: a) P1. b) P2. c) P3. d) 0. Monopolistic ...
a. If this firm were a non-discriminatory coefficient equal to 0.85, then how many workers would the firm hire, and what would profits equal? b. If the firm had a discrimination coefficient equal to 0.85, then how many workers would the firm hire, and what would profits equal? c...
Calculate the break-even revenue for the same firm if the fixed cost stays the sam For commodity X, the average cost is equal to marginal cost at every level of output. Assuming that the market for X is competitive and the ...
A firm's cost curve is {eq}C=F+10q-bq^2+q^3 {/eq} with {eq}b>0 {/eq}. a. For what values of b (as a function of q) is AVC positive? Assume now that b satisfies the condition. b. What is the shape of the AVC curve? At what leve...