Determine an equilibrium price for the product

Assignment Help Microeconomics
Reference no: EM131634984

Question: Firms in a perfectly competitive market are said to be "price takers"-that is, once the market determines an equilibrium price for the product, firms must accept this price. If you sell a product in a perfectly competitive market, but you are not happy with its price, would you raise the price, even by a cent?

Reference no: EM131634984

Questions Cloud

Discuss evidence-based decision making : ?What is the rationale for considering whether to include qualitative or quantitative research studies for evidence-based decision making
What happens to the firm individual supply curve : A firm's marginal cost curve above the average variable cost curve is equal to the firm's individual supply curve.
Discuss holistic nursing as a family nurse practitioner : Describe how you will apply the principles of caring and holistic nursing as a family nurse practitioner
Describe how you will apply the principles of caring : Describe how you will apply the principles of caring and holistic nursing in your FNP practice . Use at least one outside scholarly article
Determine an equilibrium price for the product : Firms in a perfectly competitive market are said to be "price takers"-that is, once the market determines an equilibrium price for the product.
Volume of the person can be modeled by a cylinder : Assume that the volume of the person can be modeled by a cylinder that is 4.0 ft tall. The average density of a human is about 1.0 g/cm3, and the density.
Define given terms productive and allocative efficiency : Productive efficiency and allocative efficiency are two concepts achieved in the long run in a perfectly competitive market.
Discuss the implications associated with regulatory agencies : Describe the implications associated with two regulatory agencies when a patient request alternative therapy
Examine the strengths and weaknesses of each technique : Examine the strengths and weaknesses of each technique. Assess the effectiveness of each technique in analyzing your topic.

Reviews

Write a Review

Microeconomics Questions & Answers

  Look at an economy with two consumers a and b and two goods

look at an economy with two consumers a and b and two goods x1 and x2. let the two consumers preferences be described

  The family doctor magazine is published monthly in ho chi

the family doctor magazine is published monthly in ho chi minh cityvietnam aimed at providing health nutrition fitness

  How the company could contribute

Write a proposal to management as to how the company could contribute, taking into consideration the community, the employees, and the company.

  Suppose velocity is constant and real output grows

Suppose velocity is constant and real output grows at 3% per year and money supply grows at 8% per year. Using the Quantity Theory of Money,

  Ethical perspective speaks directly to values of workers

His ethical perspective speaks directly to values of workers and values of organizations.

  Examine the collusion for an oligopoly

Collusion is difficult for an oligopoly to maintain because, in the case of oligopoly, self-interest is in conflict with cooperation.

  What can cause the demand for a resource to shift

What can cause the demand for a resource to shift - Why does the division of resource earnings into economic rent and opportunity costs depend on the resource owner's elasticity of supply?

  Describe what is meant by contribution analysis

Can you think of a recent example where you had to evaluate the incremental costs. Explain what is meant by "contribution analysis". Carefully define the term and provide examples to illustrate it.

  Explain how this is still big part of todays us or any

2000 years ago gladiators fought in the coliseums of ancient rome making huge salaries. is this an example of a winner

  Small business administration government agency

Do online research into the U.S. Small Business Administration (SBA) government agency and their three different loan programs that are designed to cover a wide array of businesses and their particular needs.

  Question 1 at the beginning of the fiscal year borland

question 1 at the beginning of the fiscal year borland company acquired new equipment at a cost of 65000. the equipment

  In march 2010 president obama announced an initiative to

in march 2010 president obama announced an initiative to double the u.s. exports by 2015. you work for the u.s. chamber

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd