Various kinds of capital goods
Supply curves for different kinds of capital goods are usually: (w) perfectly elastic. (x) perfectly inelastic. (y) upward sloping. (z) downward sloping. Can anybody suggest me the proper explanation for given problem regarding Economics generally?
Supply curves for different kinds of capital goods are usually: (w) perfectly elastic. (x) perfectly inelastic. (y) upward sloping. (z) downward sloping.
Can anybody suggest me the proper explanation for given problem regarding Economics generally?
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Pure competitors produce where P is = MC since: (w) their objective is community welfare, not profit. (x) this always allows them excess profits. (y) maximum profit needs that MR = MC. (z) they can set any price they desire Discover Q & A Leading Solution Library Avail More Than 1411824 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1922011 Asked 3,689 Active Tutors 1411824 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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