--%>
Assignment Help - homework help

Surviving for maximum profits in competitive firms

Supposing that the competitive firms should seek the maximum profits to survive signifies that: (1) Firm do not make trial-and-error decisions. (2) Each and every firm always seeks the maximum gain and nothing else. (3) Competition is very profitable. (4) None of above.

Can someone please help me in finding out the accurate answer from the above options.

   Related Questions in Microeconomics

  • Q : Non-discriminating firm with monopsony

    I have a problem in economics on Resources and Products Flow Model. Please help me in the following question. The non-discriminating firm with the monopsony power in labor market confronts a: (1) Wage rate which consistently surpasses the marginal rev

    		•
  • Q : Boycotts relating problem People who

    People who decline to buy the products of a firm whose activities they disapprove, especially whenever such rejection is intended to support the employees who are on strike, and who advise others to not purchase such products, or to not deal with these firms, are enga

    		•
  • 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 : Oligopolistic nature of industries The

    The oligopolistic nature of several industries is probably to be attributable to: (1) overly expansionary macroeconomic policies. (2) corporate instability. (3) economies of scale. (4) cooperative gaming. (5) unstable Nash equilibrium.

    Q : Negatively sloped Demand curve When the

    When the demand curve for wheat is negatively sloped, increases in its supply will: (1) Lower the equilibrium price. (2) Increase the equilibrium price. (3) Reduce the equilibrium quantity. (4) Stimulate technological modification.

    Q : Income elasticity of inferior goods

    Negative income elasticities of demand entail those goods are: (1) luxuries. (2) necessities. (3) inferior. (4) substitutes. (5) expensive. Can anybody suggest me the proper explanation for given problem regarding

    		•
  • Q : Labor Unions and Employment The labor

    The labor union will not enhance its members' job viewpoints by: (1) Raising worker productivity through apprenticeship. (2) Limiting entry through quotas or high initiation fees. (3) Lobbying for the tariffs on competing the foreign goods. (4) Collectively bargaining

    		•
  • Q : Describing the problem of Moral Hazard

    When an NBA all-star bets in opposition to his team in games he plays after getting the money designated in his contract, he would be describing the problem of: (1) Default a version. (2) Over achievement. (3) Moral hazard. (4) Stupidity.

    Q : Price crosses elasticity of demand when

    When a 2% raise in the price of Kibbles causes a 1% raise in the quantity sold of Bits, in that case their price cross elasticity of demand is approximately _____ and such goods are _____. (w) -2; complements (x) 0.5; substitutes (y) 2; substitutes (z

    		•
  • Q : Interest rate in Determinants of Demand

    The demand curves for most of the nondurable consumer goods would be least influenced by modifications in: (i) Interest rates. (ii) House-hold income. (iii) Prices for related goods. (iv) Tastes and preferences. Ca

    		•