Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Perfect competition has the following characteristics:
1. Large number of firms - There are a large number of firms in the market. Due to this each firm produces a very small fraction of the industry output. This is turn implies that a single firm cannot affect the market prices.
2. Identical products - All the firms in market produce and sell an identical product. The consumers cannot differentiate between the product of one firm and that of another.
3. Free entry and exit - New firms attracted by profit are free to enter the market while the existing ones suffering from losses are free to leave. Firms entering the market increase the supply of the good and reduce profit margins. Free exit reduces market supply and increases profit margins.
4. Perfect information - All firms are fully informed about the prices and costs of their rival firms. Buyers have full information about prices and other relevant factors.
graphing a isoquant
A Period of Transition and Improvement: These few years stand out as the golden years for India's BOP. India had a small current account surplus (0.6 per cent of the GDP on an
Why is the concept of scarcity relevant to both LDC s and MDC s? All societies throughout time have wrestled with the basic economic conundrum of having needs that cannot be me
What is utility maximization according to consumer behavior? Consumer Behavior: Utility Maximization A foundational hypothesis onto individual behavior within modern econ
Q. Explain about Real Wages? Real Wages:Value of wages, adjusted for level of consumer prices. If nominal value of wages is growing faster than consumer prices, then real wages
The reason that an entrepreneur supposes the risk of starting a business is to earn profits. The fundamental assumption in the theory of production is that a rational owner of a b
Credit Squeeze:At times private banks become reluctant to issue new credit andloans, frequently because they are worried about risk of default by borrowers. This is common at the t
leat cost factor combination
1. The two-way ANOVA, non-orthogonal case, has been a vexing problem for ANOVA researchers for many years. Please answer the following questions concerning the two-way non-orthogo
Exit Strategy The exit strategy denotes that which investors in an organizations realize all or elements of their investment, regardless of the organizations success.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd