--%>

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 : Risky forms of production to gain

    Entrepreneurs: (w) undertake risky forms of production to gain uncertain profits. (x) obtain interest payments for their services. (y) are usually overcompensated for their innovations. (z) receive virtually all their wealth by inheritance.

  • Q : Restriction of laissez-faire government

    A laissez-faire government is restricted to finding: (1) property rights within a simple fashion and to enforcing private contracts. (2) market prices which guarantee equitable resource allocations. (c) how resources will be allocated efficiently. (4)

  • Q : Economic sense production methods

    Evaluate and explain the statements: “In the economic sense production methods are the most efficient methods, once resource prices are considered and are lesser in sense of engineering”.

  • Q : Determine opportunity cost of making an

    The opportunity cost of making an exact alternative is: (i) useful primarily as an indicator of relative prices. (ii) its nominal costs into terms of all other goods. (iii) the information which guides your decision. (iv) measured through the subjecti

  • Q : Drawbacks of capital budgeting Write

    Write down the drawbacks of capital budgeting?

  • Q : Why does the supply curve slope upward

    Explain the law of supply. Why does the supply curve slope upward?

  • Q : Describe double coincidence of wants

    Double coincidence of wants: This means that one person's wishing to buy and sell should coincide with another person’s wish to buy and sell.

  • Q : Assertion for the levying of a tax on

    Use the circular flow model to confirm this assertion for the levying of a tax on air polluters?

  • Q : Requirement of building blocks for a

    Building blocks for a capitalist system consist of: (1) supplies and demands. (2) private property rights. (3) laissez-faire policies. (4) market-determined outputs and prices. (5) All of the above. Please guys hel

  • Q : Problem on productive contribution

    Suppositions underpinning simple production possibilities frontier models don’t comprise a need that: (i) Net resources are fixed. (ii) All resources are efficiently employed. (iii) Technology is steady. (iv) Resource owners are paid according t