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.

View Complete Question

Related Questions in Microeconomics

Q : Purely competitive market at

For a purely competitive market at any equilibrium point on the short-run supply curve: (w) all firms have identical marginal costs. (x) economic profit is positive. (y) accounting profit is normal. (z) marginal revenue = average cost.

Q : Constructing a model of Production

Can someone please help me in determining the right answer from the following question. The three fundamental assumptions required to construct a model of the production possibilities frontier do not comprise: (1) Reducing marginal returns to producti

Q : Synonym of Word Inequity Of the given,

Of the given, the closest synonym for the word inequity is: (w) inequality. (x) disproportional. (y) unfairness. (z) regressivity. Can someone explain/help me with best solution about problem of Economics

Q : Reduce total revenue when demand is

Boosting the price for Pixie’s cheesy fried grits by P2 to P3 will: (w) increases total revenue since demand within inelastic. (x) increase total revenue since demand is elastic. (y) reduce total revenue since demand is inelastic. (z) reduce total revenue since demand

Q : Problem on Monopsonistic exploitation I

I have a problem in economics on Monopsonistic exploitation. Please help me in the following question. The Monopsonistic exploitation of labor signifies that the: (i) Influenced workers receive much low wages. (ii) Firm reaps big economic gains by exploiting the worke

Q : Long run in production theory Can

Can someone help me in finding out the most precise answer from the given options. The long run in the production theory is a period just long sufficient for: (i) Firms to totally differ all resources. (ii) Profits to be maximized. (iii) Marginal costs curves to be re

Q : Meaning of surplus in current price I

I have a problem in economics on Meaning of surplus in current price. Please help me in the following question. The surplus of potting soil signifies that the current price: (1) Makes an surplus demand. (2) Is above the equilibrium. (3) Surpasses the

Q : Price Rigidity Price Rigidity: The

Price Rigidity: The other significant feature of oligopoly is price rigidity. Price is rigid or sticky at the prevailing level due to the fear of reaction from the rival firms. When an oligo

Q : Value of Nonhuman Wealth The most

The most unequally variable distributed for U.S. data would most likely be: (1) pre-tax and pre-transfer incomes 1929. (2) incomes after taxes and transfers 1975. (3) the value of nonhuman wealth 2005. (4) incomes after taxes and transfers 2005. (5) incomes before tax

Q : Income distribution after taxes and

When line 0C0' shows income distribution before taxes and transfers, in that case the line that shows income distribution after taxes and transfers would be: (1) line 0A0'. (2) line 0B0'. (3) line 0C0'. (4) line 0D0'. (5) line 0E0'.

Discover Q & A

Leading Solution Library

Avail More Than 1416825 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1954372
Asked

3,689

Active Tutors

1416825

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment