--%>

Price charges of firm in perfectly competitive industry

Assume that the equilibrium price within a perfectly competitive industry is $15 and a firm into the industry charges $21 there. Which of the given will occur: w) the firm's profits will rise. x) The firm's revenue will rise. y) The firm will not sell any output. z) The firm will sell more output than its competitors.

How can I solve my economics problem? Please suggest me the correct answer.

   Related Questions in Business Economics

  • Q : Innate psychological attributes of

    As illustrated by Adam Smith that there are two innate psychological attributes of humans. One is which people have a powerful wish to better their individual circumstances. The other is as human beings so we are: (1) more interested

  • Q : Surpluses in the balance of trade The

    The advocates of laissez-faire policies favor: (i) Govt. control of economy. (ii) Public ownership of all the resources. (iii) Income to be distributed according to requirement. (iv) Surpluses in the balance of trade. (v) Minimal govt. intervention in economy.

  • Q : An Inquiry in the Nature and Causes The

    The first comprehensive work upon economics written within English was authored through Adam Smith in 1776 year and entitled that “An Inquiry within the Nature and Causes of: (1) Laws of Supply and Demand.” (2) Wealth of Nations.” (3

  • Q : Possession protection of property rights

    Why possession protection of property rights and private property promotes the market system?

  • Q : Define condition when one gain unless

    When no one can gain unless someone else loses, in that case current arrangements are: (w) economically efficient. (x) not optimal. (y) inequitable. (z) the best cure for scarcity. Can someone explain/help me with best solution abo

  • Q : Next Generation Manufacturing Strategy

    This Assignment assesses the following module Learning Outcomes:1. Describe current production concepts and techniques in formulating a manufacturing strategy.2. Discuss the development and implementation of manufacturing strategies in the busi

  • Q : Heterodox perspective of business

    I am facing difficulty in this question. Help me in find out correct answer of this economy based question. From heterodox perspective, why do business enterprises choose administered prices as opposed to highly flexible prices?

  • Q : What are the 2 definitions of economics

    What are the 2 definitions of economics growth?

  • Q : The supply curve when each of these

    What happens to the supply curve when each of these determinants changes?

  • Q : Heterodox pricing process Compare the

    Compare the costing and pricing process of heterodox pricing process to the procedures utilized in neoclassical microeconomics to set prices.  In what ways are heterodox prices altered from neoclassical prices?