How is a demand curve for a perfectly competitive firm determined? A firm faces a downward-sloping demand curve. Does this describe a monopoly firm, a monopolistically competitive firm, both, or neither? Explain. Describe how one can maximize profit in a perfect competition market?
答案解析: In a market of perfect competition an individual firm’s demand schedule is perfectly elastic (horizontal). 统计:共计107人答过,平均正确率65.42% 问题:进入高顿部落发帖帮助相似题型热门网课更多>> 论坛精华更多>> 题库APP下载更多>> 关注我们 微信号:gaoduntiku 登录手机注册 合作账户登录:...
1. Why are perfectly competitive firms called price takers? 2. Draw an equilibrium using S&D for an entire perfectly competitive industry. How does this relate to the demand curve for one perfectly co Monopolistic competition in a market i...
The only new customers in the market who have not bought the product are those farther down the demand curve, who only buy when the price is lower. Marginal Revenue The marginal revenue of a company is the revenue of its last unit sold. For a monopolist, this is always decreasing -- ...
Explain why the demand curve facing a monopolist is less elastic than one facing a firm that operates in a monopolistic-ally competitive market (all other factors held constant)? How are long-run economic profits linked to entry ...
Gum and mints are substitutes. If the price of gum increases, what happens in the market for mints? A The supply curve shifts to the left B The supply curve shifts to the right C The demand curve shifts to the left D The demand curve shifts to the right ...
"Whenafirmconsiderthemarketpriceasitsdemandcurve,thenthedemandcurveisalsoequaltothemarginalandaveragerevenueforthefirm.Why? 相关知识点: 试题来源: 解析 I think this situation is only applicable to “Perfectly competitive firms”,not "Manufacturers of non-perfect competition". Use formula to explanation ...
The market demand curve is the horizontal summing up of the individual demand curves for a product. Factors shifting the demand curve 1. prices of other goods (substitutes or complements) 2. disposable income (normal and inferior goods)
In recent years there has been a flourishing of models with microfoundations based on imperfect (or monopolistic) competition that claim to yield Keynesian results which, it is held, are incompatible with perfect competi-tion. The paper shows that Keynes's results do not depend on market forms ...
The demand curve of a market represents the responsiveness of consumers to price changes to a good. The flatter the slope of a demand curve, the higher the responsiveness in quantity demanded for a price change. A horizontal demand curve is used to repre