In a perfect market the TR and TC create a ___________________breakeven quantity whenever the MC is constant and the potential profit is ___________________________________?

Q: The industry for cobalt mining is perfectly competitive. A typical mine has a capacity constraint of…

A: The supply curve depicts the units of the commodity that producers are ready and willing to supply…

Q: From the given information, draw the demand curve, MR, MC and ATC curve Output          Price…

A: Demand curve:  Graphical representation of a demand curve is the relationship between a good's or…

Q: a The firm represented here produces an identical product (bagels), in which entry and exit into its…

A: Because the firm is in a competitive market, it is a price taker; and price (P) is equal to the…

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A: The objective of this question is to find the profit maximizing quantity for a perfectly competitive…

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A: Market price describes the existing or current price at which a good, service, or asset is bought…

Q: The firm will maximize its profit at a quantity of After choosing the profit maximizing quantity,…

A: In this economic scenario we explore the concept of profit maximization and the dynamics of market…

Q: perfectly competitve firms respond to changing market conditions by varying their (choose 1 below)…

A: A totally cutthroat firm can sell as huge an amount as it wishes, as long as it acknowledges the…

Q: 300 270 240 210 180 150 120 90 90 60 60 30 30 MC 20 32 40 50 60 70 80 ATC MR The figure shows MC, MR…

A: A competitive market has a number of buyers and sellers selling similar types of products. These…

Q: Assume there are $50 marginal costs, what is the peak-load price for low and high seasons? a) $75,…

A: Given the demand functions The marginal cost is $50

Q: What is the market price? What is the profit-maximizing output? What is total revenue at the…

A: A horizontal MR line means that the MR remains same as more of the output is sold. In others words,…

Q: When a company has market power, it is _____ in its market

A: Introduction  Market power is the ability of a business to set their prices above a level that would…

Q: dont use chat answer and correct answwer i will 10 upvotes

A: The objective of the question is to find the optimal price to be charged for a good using the…

Q: True or False: "In a perfectly competitive market, firms have no market power and must accept the…

A: A perfectly competitive model refers to a market situation at which there are many buyers and…

Q: What are the profit-maximizing output level and price for this producer of beer? Costs and revenue…

A: Profit maximisation is a concept in economics that seeks to maximise a company's net profit while…

Q: In the long run, if firms were making positive economic profits, then other firms will market, which…

A: The financial gains earned by a business or individual after deducting all costs, including…

Q: Consider the  market  for  solar  power.  Assume the market  is perfectly  competitive and…

A: In a market, the imposition of tax on related goods will have a significant impact on the demand and…

Q: $ Quizzes 2 $15. $12 $10- $7 0000 $114 FIRM O $0 MC 20 30 38 48 55 q The above graph represents a…

A: A perfectly competitive market is a market structure that consists of large number of buyers and…

Q: (d) Based on your answer to part (c), will the number of firms in the industry increase, decrease,…

A: Dear student, you have asked multiple sub-part questions in a single post.In such a case, as per the…

Q: Suppose the fictional country of Shenandoah produces only two goods: millet and telephoto lenses.…

A: The concept of the Production Possibility Frontier evolved from economic theories of the early…

Q: A perfectly competitive firm has the following fixed and variable costs in the short run. The market…

A: Total cost is the sum of fixed cost and variable cost. Total revenue is the quantity multiplied by…

Q: What is the long-run equilibrium price in this market? Please enter your answers as whole numbers…

A: From the above graph, one can observe that this is the competitive market, where demand(d) is equal…

Q: Quantity Demanded Figure 1 Quantity Demanded Figure 2 For a perfectly competitive firm, which line…

A: Introduction: Under perfect competition, the price is determined in the market by market forces i.e.…

Q: What is a price​ taker? A price taker is   A. a firm with a perfectly inelastic demand curve.   B. a…

A: Market structure refers to the place where the transaction of goods and services takes place between…

Q: What is the correct answer? In pure competition, if the market price of the product is lower than…

A: Pure competition is a showcasing circumstance wherein there are an enormous number of dealers of an…

Q: what is the effect on the market price and output of hambyrgers with reference to the following? A.…

A: The demand curve is downward sloping, and it shows the negative relationship between price of the…