--%>

Purely competitive firm maximizing profit

A purely competitive firm maximizes profit through producing where is: (w) P = ATC. (x) P = MR = MC. (y) PQ = TC. (z) AFC = AVC.

I need a good answer on the topic of Economics problems. Please give me your suggestion for the same by using above options.

   Related Questions in Microeconomics

  • Q : Scope of spiral and waterfall approach

    Explain the difference in changing the scope between a spiral approach and a waterfall approach?

  • Q : Problem on shortages or surpluses I

    I have a problem in economics on Problem on shortages or surpluses. Please help me in the following question. No shortages or surpluses exist if: (1) Central planners set prices which equivalent production costs. (2) The market is in equilibrium. (3)

  • Q : Long run equilibrium price When

    When Christmas tree farming is a decreasing cost industry and this firm is typical, in that case an increase in the market demand for Christmas trees will give in a long run equilibrium price: (1) greater than P1. (2) less

  • Q : Total revenue and total cost for firm

    Total revenue for the firm in illustrated figure is __________ __________ total cost.: (w) greater than (x) less than (y) equal to (z) Cannot be determined by the information given.

    Q : Market clearing price problem The

    The markets in which the current market price surpasses the market clearing price experience: (1) Surpluses. (2) Declining scarcity. (3) Unexpected inventory shrinkage. (4) Shortages. (5) Raised market demands. Find out the right a

  • Q : Determine water elasticity of production

    When 200,000 gallons of water are applied per acre, 4 tons are harvested by each acre of linguini trees yearly, but cutting back to 160,000 gallons causes the crop per acre to reduce to 2 tons yearly. Then water elasticity of linguini production is as

  • Q : Production and costs in monopolistic

    In the short run, no profit-oriented monopolistically-competitive firm still knowingly generates any output unless: (1) an economic profit is assured. (2) total revenues are expected to equal or exceed its total variable costs. (3) the average wage ra

  • Q : Long-run economic losses in a

    Expectations of long-run economic losses within a competitive industry as: (1) inevitably follow “cut throat” pricing policies. (2) cause firms to leave the industry. (3) increase each firm’s long-run fixed costs. (4) create pressure

  • Q : Problem on Collective Bargaining Can

    Can someone help me in finding out the right answer from the given options. Among the functions of the collective bargaining between unions and management are: (1) Establishing the rules of the work-place. (2) Selecting the form of compensation. (3) Determining the pr

  • Q : Exploitation problem If the resource

    If the resource suppliers are paid less than the values of their marginal products [VMPs], then they are stated to be: (i) In equilibrium. (ii) Exploited. (iii) Monopolistic. (iv) Monopsonistic. Can someone please help me in findin