Consider a firm in a perfectly competitive industry. Market price right now is Pmkt. Demand for the firm's prod- ucts (not Market demand) is perfectly elastic at the market price. (Note: since this is a perfectly competitive industry, this is true in the long-run or short-run and is a consequence of the price-taking assumption) This firm is offered an opportunity to upgrade technology that will make all labor more productive than before (with the same machines). The technology costs a fixed amount F. (a) How does the firm's supply curve change with the technology? (b) Will the firm adopt the technology?

Q: List three different religions and provide examples of how they affect business practices.

A: Hinduism: The belief in this religion that customers are king and they should be treated…

Q: What are the causes of sweatshop ? Enumerate and give meaning.

A: Sweatshops are places of employment where employees are subjected to subpar working conditions,…

Q: c. How much total consumer surplus will each of them receive at a price of $32?

A: Last parts C and d are answered below:

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Q: Why is mixed economy best?

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Q: Microeconomics also known as

A: There are three major economic problem. They are as follows: The needs of the people are unlimited…

Q: How can the 6 D's help evaluate a learning organization?

A: Learning transfer is portrayed as the way toward figuring out how to function in a specific work…

Q: Imperfect markets meaning

A: Competitive market: - it is a market condition where there are many buyers and many sellers in the…

Q: Write detailed notes on community economic analysis

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Q: Example of microeconomics business

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Q: What is economics? A social science that teaches one how to cope with scarcity. A discipline that…

A: Economics is a social science that deals with economic behavior and the problem of scarcity.

Q: As you know about the market (like perfect and imperfect) write in your words about the market which…

A: Meaning of Market: The term market refers to the situation under which the producers or the…

Q: What type of economy is best?

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A: A way the world tends to look, analyze and work by comparison of the costs of an action with the…

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Q: Explain the meaning of Philosophy

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Q: Select the statement that accurately describes traditional economies.…

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Q: What is Organization in terms of business?

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Q: What comes to your mind when you hear the word humanities?

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Q: An important trade-off you’re recently faced Describe an incentive your parents offered to you in an…

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Q: What is the biggest industry today.

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A: In economics, market structure refers to how various industries are categorized and distinguished…

Q: How value affect price for a University

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Q: What Is Cost-Effectiveness Measures?

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