Explain about price-taker
The purely competitive firm: (w) is a price-taker. (x) confronts an inelastic demand curve. (y) should decide what price to charge. (z) maximizes total revenue. How can I solve my Economics problem? Please suggest me the correct answer.
The purely competitive firm: (w) is a price-taker. (x) confronts an inelastic demand curve. (y) should decide what price to charge. (z) maximizes total revenue.
How can I solve my Economics problem? Please suggest me the correct answer.
All prospective demanders [buyers] would be within equilibrium when this market for teleporter buttons created a price and a quantity consistent along with: (1) eliminating the shortage Q1-Q3 existing at P3<
Mainly economists object to unregulated monopoly primarily since: (w) economies of large scale operation may be attained. (x) technological advance may be fostered. (y) economic efficiency would be promoted. (z) economic efficiency may be decreased.
Most markets into the American economy are: (i) purely competitive. (ii) primarily unregulated monopolies. (iii) blends of monopolistic and competitive tools. (iv) dominated by regulated monopolies. (v) governed through the decisions of political lead
If marginal social cost (MSC) equivalents marginal social benefit (MSB) as: (i) no injurious pollutants are being pumped within the environment. (ii) consumers enjoy more surplus than do producers. (iii) producers surplus is minimized
Even although less than 12 percent of labor in the U.S. is unionized, numerous argue that unions are the primary cause of inflation as union wage hikes: (i) Cause unemployment that is inflationary. (ii) Frequently serve as the goals in recognizing non-union wage. (iii
Monsieur Cournot has a monopoly on an artesian well from that flows tasty spring water along with medicinal properties. To ignore variable costs, he insists which customers bring their own pails as well as fill them individually. Cour
If comparing monopolistic competition to pure competition within the long run: (w) product differentiation definitely improves social welfare. (x) only monopolistic competitors may earn economic profits. (y) only pure competitors oper
Whenever Janet and Bob realize that Janet is a better cook and Bob is better at cleaning the lawn, dividing such chores up according to skill is known as: (1) Gains from trade (2) Brute force allocation (3) Division of labor (4) Affirmative action. Q : Changing effects of price of a product Increasing the price of a product will raise total revenue proportionally into the unlikely event which demand was: (1) perfectly price elastic. (2) relatively price elastic. (3) unitarily price elastic. (4) relatively price inelastic (5) perfectly price inelastic.
Increasing the price of a product will raise total revenue proportionally into the unlikely event which demand was: (1) perfectly price elastic. (2) relatively price elastic. (3) unitarily price elastic. (4) relatively price inelastic (5) perfectly price inelastic.
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