Price taker in perfect competition
State how is a single buyer a price taker in the perfect competition? Answer: A single buyer’s share in total market demand is too significant that the buyer can’t affect the market price on his own by altering his demand.
State how is a single buyer a price taker in the perfect competition?
Answer: A single buyer’s share in total market demand is too significant that the buyer can’t affect the market price on his own by altering his demand.
Firms along with output having many perfect substitutes for potential buyers confront as: (w) perfectly price elastic for horizontal demand curves. (x) predatory pricing through more monopolistic firms. (y) price elasticity coefficients of zero. (z) s
I have problem in this question. What is lexicographic preference ordering? Provide me correct answer of this.
Profit for purely competitive firms tends in the direction of zero in the long run since: (w) managers resist charging more than a fair price. (x) firms collude to charge prices which barely cover average costs. (y) profit attracts entry, whereas loss
When do we state that there is an excess supply for the commodity in market? Answer: If at a given price the quantity supplied of a product surpasses its quantity d
Can someone help me in finding out the right answer from the given options. In short run for a competitive market, a raise in the supply will generally: (1) Raise demand. (2) Not affect the equilibrium price. (3) Lower equilibrium price. (4) Increase equilibrium price
A firm can practice price discrimination when this: (i) confronts a perfectly elastic demand curve. (ii) is a pure quantity adjuster. (iii) has several monopoly power and is capable to separate its customers in various groups with different elasticiti
When the price elasticity of demand for wine as 2.5, in that case rise in the excise tax which raises its price will be: (w) increase total spending upon wine. (x) reduce total spending upon wine. (y) not influence wine consumption. (
I have a problem in economics on Supply of Labor: Income and Substitution Effects. Please help me in the following question. When the income effect of higher wage rate is more influential than the substitution effect, then: (1) The supply curve of labor is positively
Define Real Rate of Interest in Economics?
Extensively accepted normative objectives for microeconomic comprise: (1) full employment and balanced economic development. (2) a stable price level and maximum purchasing power. (3) efficiency, equity and freedom. (4) job security and equality within the distributio
18,76,764
1932622 Asked
3,689
Active Tutors
1449607
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!