Implication of buyers in market
Describe the implication of big number of buyers in the perfectly competetive market.
Expert
The implication is that no single buyer is in a place to affect the market price on its own since an individual buyer?s purchase forms a negligible proportion of the total purchase of good in the market.
A short run market supply curve for a good manufactured within a purely competitive industry is derived through: (w) vertically summing the marginal cost curves above the AVC curves for all firms which may potentially enter the industry. (x) adding to
Can someone please help me in finding out the accurate answer from the following question. Assume that the War in Iraq spilled over into another oil exporting countries. When U.S. gasoline prices rose to, state, $10 per gallon, the least likely outcome would be that:
Income elasticity of demand: Income elasticity of demand is the degree of receptiveness of demand to the modification in income. Q : Effect of reducing prices on Can someone help me in finding out the accurate answer from the given options. People tend to recognize more ways to employ a good if the: (1) The prices of substitute goods drop. (2) Good is poorer and their incomes increase. (3) Complements of good become more costl
Can someone help me in finding out the accurate answer from the given options. People tend to recognize more ways to employ a good if the: (1) The prices of substitute goods drop. (2) Good is poorer and their incomes increase. (3) Complements of good become more costl
The demand for an exact good tends to be relatively more price elastic when the good: (1) has various close substitutes and very little complements. (2) is taken as a necessity in place of a luxury. (3) is an inferior good. (4) is rel
You win the Idaho state lottery as well as are entitled to two tax-free payments of $500,000 every. You get the first payment today and the next payment in precisely one year. Suppose the interest rate is a generally high 25 percent.
The demand for labor is more elastic the: (i) larger labor costs are like a proportion of total costs. (ii) shorter the time interval considered. (iii) greater the supply of labor. (iv) more difficult this is to substitute one resource for another. (v
An import tariff on Japanese cars of ac generates government revenue equivalent to: (w) trapezoid bcde. (x) rectangle P1to P2ca. (y) distance Q0 to Q1. (z) rectangle 0P2dQ2. Q : Price elasticity of demand DVDs of games Moving from point c to point d beside demand curve D, the price elasticity of demand DVDs of video games equals: (1) 0.8. (2) one. (3) 1.10. (4) 1.25. (5) 2.50 Q : Find out marginal cost curve LoCalLoCarbo has turn into the favorite of fad dieters. Therefore in illustrated figure there curve C shows: (1) LoCalLoCarbo’s marginal cost curve. (2) LoCalLoCarbo’s average variable cost curve. (3) LoCalLoCarbo’s average total cost curve. (4) the
Moving from point c to point d beside demand curve D, the price elasticity of demand DVDs of video games equals: (1) 0.8. (2) one. (3) 1.10. (4) 1.25. (5) 2.50 Q : Find out marginal cost curve LoCalLoCarbo has turn into the favorite of fad dieters. Therefore in illustrated figure there curve C shows: (1) LoCalLoCarbo’s marginal cost curve. (2) LoCalLoCarbo’s average variable cost curve. (3) LoCalLoCarbo’s average total cost curve. (4) the
LoCalLoCarbo has turn into the favorite of fad dieters. Therefore in illustrated figure there curve C shows: (1) LoCalLoCarbo’s marginal cost curve. (2) LoCalLoCarbo’s average variable cost curve. (3) LoCalLoCarbo’s average total cost curve. (4) the
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