--%>

Perfectly Competitive market condition

In which market condition, the effect of an individual seller is (0) zero?

Answer: In Perfectly Competitive market condition.

   Related Questions in Microeconomics

  • Q : Social opportunity cost of resource

    Economic rent is: (w) income received by a factor owner in excess of the social opportunity cost of supplying the resource. (x) the difference between a firm’s revenues and the sum of the fixed and variable costs of production. (y) a form of eco

  • Q : Close down a purely competitive firm in

    Within the short run, there a purely competitive firm will close down its plant(s) and manufacture nothing when: (i) this makes no pure economic profits. (ii) normal profits were unattainable. (iii) P < ATC at all output levels. (iv) accounting pro

  • Q : Price increment for higher total revenue

    A price increase for Pixie’s cheesy fried grits by P1 to P2 would yield higher total as: (w) revenue because demand is price elastic. (x) supply since demand is unitarily elastic. (y) revenue since demand is price inelastic. (z) use of the

  • Q : Consumer demands-technologies used by

    Consumer demands for the caviar are least possible to change in response to modifications in: (1) Technologies utilized by workers who harvest caviar. (2) Government taxes or subsidies on the caviar. (3) Prices for other delicacies people eat on the festive occasions.

  • Q : Profit maximization at the rate of

    At the rate of output, profits are maximized where marginal: (i) revenue is maximized. (ii) revenue equals marginal cost. (iii) revenue exceeds marginal cost by the greatest amount. (iv) cost is minimized. Can some

  • Q : Standard economic reasoning for price

    In the given figure as in below, demand curve D0D0: (w) has price elasticity of infinity. (x) is possibly for a luxury good. (y) is unitarily price elastic. (z) seems contrary to standard economic reasoning.

    Q : What is APS What is APS? APS = S/Y. It

    What is APS? APS = S/Y.It is the ratio of income to saving which is termed as APS.

  • Q : Problem on equilibrium market price I

    I have a problem in economics on equilibrium market price. Please help me in the following question. The equilibrium market price subsists only if: (1) Quantity demanded equivalents the quantity supplied. (2) Surpluses exceed the shortages. (3) Expert

  • Q : Economy-efficiency while transaction

    Transaction costs tend to be decreased, consumer prices tend to be lower and additionally stable and economy-wide efficiency is enhanced if: (1) rigid wage and price controls are imposed. (2) central planning fosters

  • Q : Equilibrium interest rates on financial

    Equilibrium interest rates on different financial securities tend to be negatively associated to: (1) the time remaining until an asset matures. (2) default, exchange rate, and interest rate riskiness of an asset. (3) liquidity. (4) savers’ time