8. Which of the following markets comes close to satisfyingthe assumptions of a perfectly competitive marketstructure?a. The stock market.b. The market for agricultural commoditiessuch as wheat or corn.c. The market for petroleum and natural gas.d. All of the above come close to satisfying theassumptions of perfect competition.

# A perfectly competetive market structure is characterized by large number of buyers and sellers.…

Answered: 8. Which of the following markets comes…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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4 The Competitive Equilibrium Model—Deriving Supply] Negar owns a trendy and sustainable shoe factory. The total cost of producing a given number of pairs of shoes is displayed in the table below. Assume Negar can only produce the integer quantities of pairs of shoes specified in the table. Number of pairs Total Cost 0 400 10 410 20 430 30 460 40 500 50 580 60 680 70 800 b. Draw the supply curve for Negar’s shoe factory. c. Suppose the wholesale market for shoes that sell to retail stores is competitive, with a market price of $10 per pair (i.e., $100 per 10 pairs). If Negar’s goal is to maximize profits, how many pairs will she choose to sell? d. What are Negar’s profits when she sells the number of pairs from (c) at the market price of $10? e. Calculate Negar’s producer surplus given the price and quantity from part (c). How does this compare to the profit calculated in part (d)?
Which of the following product/s is/are originally native to the New World?OA. WheatO B. CattleOC. CornO D. All of the above
3. Explain where a perfectly competitive firm's marginal revenue curve is located relative to price and demand. 4. What is the optimal output rule for profit maximization? Draw a graph to show the output level where a perfectly competitive firm maximizes profit.
Please do help me answer the following amd follow the instruction given.
4. The market for fertilizer is perfectly competitive. Firms in the market are producing output but are currently incurring economic losses. Draw a graph showing this situation for a firm in the short run.
QUESTION 46 The term market failure refers to a. a market that fails to allocate resources efficiently. b.an unsuccessful apvertising campaign which reduces demand. Oc. ruthless competition among firms. O d. a firm that is forced out of business because of losses.
A firm in a perfectly competitive market a. can increase its supply to lower the market price. b. can raise the price of its product and sell more output. C. can decrease its supply to increase the market price. d. has to accept the market price for its product. e. has to lower the price of its product to sell more output.
#4. Agriculture in india is mostly characterized by perfectly competitive market why? Short answer quickly
Answer question 27
8.2
I need help with econ multiple hw questions asap! 64)In a competitive market that is characterized by free entry and exit, what will be the result? A. All firms will operate at efficient scale in the short run. B. The number of sellers in the market will steadily decrease over time. C. All firms will operate at efficient scale in the long run. D. The price of the product will differ across firms. 63)Where is the competitive firm’s short-run supply curve located? A. the part of the average-total-cost curve that lies above marginal cost B. the part of the average-variable-cost curve that lies above marginal cost C. the part of the marginal-cost curve that lies above average variable cost D. the part of the marginal-cost curve that lies above average total cost

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