Economic efficiency of purely competitive markets

Most economists favor purely competitive markets since they tend to as: (1) economies of scale. (2) large profits. (3) mutual interdependence. (4) corporate organizations. (5) economic efficiency.

Hello guys I want your advice. Please recommend some views for above Economics problems.

View Complete Question

Related Questions in Microeconomics

Q : When would transaction cost be zero All

All transaction costs would be zero when: (1) Congress required current prices to be cut by eighteen percent. (2) market information and transportation were both costless. (3) market prices were legally restricted to production costs. (4) inflation we

Q : Average expected revenue by selling

Each firm will shut down whenever the average expected revenue through selling output cannot equivalent or exceed expected as: (i) average total cost. (ii) marginal cost. (iii) average fixed cost. (iv) average variable costs.

Q : Total variable cost while maximizes

Total cost when such firm maximizes economic profits would be: (w) $72,000 per period. (x) $80,000 per period. (y) $96,000 per period. (z) $100,000 per period.

Q : Perfectly price discrimination

Babble-On holds world-extensive patents for software which translates any of 314 spoken languages within text, along with automatic audio and text translations within any of the other three-hundred-thirteen languages. This figure illustrates that Babble-On as: (1) is

Q : What is revenue deficit in government

Revenue deficit in government budget: Whenever the revenue expenses of the government is more than the revenue receipts it is termed as revenue deficit Revenue expenditure > Revenue receipts

Q : Question based on poverty rate Select

Select the right ans wer of the question. Which of the following would we expect to contain the highest poverty rate? A) white households headed by males B) elderly white households C) white households headed by females D) African-American households headed by femal

Q : Long run equilibrium for purely

When a purely competitive industry is into long run equilibrium, in that case for the typical firm: (a) P = FC = TC = MC = MR = AR = AC. (b) P = AR = MR = SRMC = SRAC = LRMC = LRAC. (c) pure economic profits reward especially effectiv

Q : Setting price and produces an output

Assume that Babble-On’s patents for speech-translation software covering 314 languages lapsed, as well as entry of new competitors within this market eroded the demand for Babble-On software, but the firm retains several market powers since competitors’ pr

Q : Demand in a specific period In adding

In adding up to price, the quantity of a good bought throughout a given period is recognized by: (1) Income. (2) Tastes and preferences. (3) Numbers of buyers in market. (4) Prices of associated goods. (e) All of above. Can someone

Q : Operation of profit maximizing

While marginal cost is positive, a profit maximizing monopolist will control where marginal revenue is: (w) positive. (x) negative. (y) zero. (z) positive, zero, or negative, depending upon elasticity of demand.

Discover Q & A

Leading Solution Library

Avail More Than 1432429 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1937586
Asked

3,689

Active Tutors

1432429

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment