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For a small firm in an extremely competitive industry, marginal revenue is always equal to price because: each firm has large fixed costs. if consumers increase their demand for the product, producer surplus falls. each firm has large economies of scale. the firm has no ability to influence the market price.
Briefly explain relationship between market price and a firm's profitability in a perfectly competitive market. How are the Zero profit point and the shutdown point for a firm operating in a perfectly competitive market determined?
what is the optimal number of people she should recruit to help
q.hardwood cutters presents seasoned as well split fireplace logs to consumers in toledo ohio. the low-cost provider
Economic history since the industrial revolution [in the United States] strongly suggests that technical learning, not the process of perfect competition, drives growth over time” explain why perfect competition is not conducive to innovation, i.e., ..
Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO.
What is a voluntary export restraint, and why would a country seek to have an importing country agree to one? Is it more or less costly to enforce in comparison to a tariff or quota?
Characteristics of Proprietorships what percentage of sole proprietorships is engaged in retail trade? Why might more sole proprietorships be engaged in services rather than manufacturing?
Improved tooling for numerical control machinery will cost $9,693, last 6 years, and have no salvage value at that time. Due to this investment, net income will increase by $2525 during the first 3 years and by $3840 during each of the remaining 3 ye..
wages decrease by 15%. by what % do the new wages increase or decrease. 3. divide 3420 into two parts such that one part is 28% more.
Illustrate what are differences and similarities between investment multiplier and a consumption multiplier. Explain how is MPC different than multiplier. Explain illustrate what is use of each one in economy.
Use indifference curves to distinguish between income and substitution effects, using the above techniques explain why the demand curve slope downwards, What are the main criteria for designing a tax system, To what extent do you think the national..
When yield management is implemented, which of the following does NOT result?
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