In the perfect competition market structure price is equal to marginal revenue average variable cost

Q: A new TV and film internet-only streaming service has just launched called FabFlix. Executives…

A: A perfect competition is a market structure in which many vendors and buyers are present. In this…

Q: If a competitive industry is currently losing money what can be expected to happen to the number of…

A: The perfect competitive market is a market where large number of buyers and sellers in the market,…

Q: In the model of perfect competition, firms maximize profits by producing where:   the difference…

A: The objective of the question is to identify the correct statement that describes how firms maximize…

Q: Which of the following is not a characteristic of perfect competition? a) Many buyers and sellers b)…

A: Perfect competition is a theoretical model used in economics to describe a market structure where…

Q: Explain why a fast-food restaurant often displays characteristics of perfect competition.

A: The structure of a market where the consumption or production of goods and services do not tend to…

Q: You operate a business subject to Perfect Competition.  The price of the good is P =40, your…

A: Given, Price (P) = 40 MC = 10 + 0.05Q Fixed costs = 5000

Q: What are the conditions that distinguish perfect competition from other market structures?

A: In case of Perfect Competition there are large number of buyers and sellers selling identical…

Q: Ben opened his ice cream stand and he aims to maximize profits by making 100 ice cream cones a day.…

A: Profit maximization is a method business firms undergo to make sure the best output and price levels…

Q: Which of the following is NOT a characteristic of perfect competition? O the product is homogeneous…

A: Perfect competition is a type of market structure in which there are large number of buyers and…

Q: Identify an industry that enjoys perfect (or nearly perfect) competition. How do the competitors…

A: Perfect Competition is a market situation where there are large number of buyer and seller s dealing…

Q: Draw the marginal revenue curve for a firm in perfect competition that produces rubber boots when…

A: Marginal revenue (MR) refers to the revenue generated from sale of additional one unit, i.e.…

Q: In perfect competition, a large number of buyers and sellers exist a small number of sellers exist…

A: The market is a location where the transaction of services and commodities takes place. It is…

Q: A perfectly competitive firm is a) both a "price maker" and a "price taker" b) neither a "price…

A: In a perfectly competitive market there are large number of firms producing similar and identical…