Sometimes described as the ideal market structure

Assignment Help Business Economics

Reference no: EM131389206

Perfect competition is sometimes described as the ideal market structure.

a) Why does P=MR=MC=AR=D for a perfectly competitive firm?

b) When a perfectly competitive firm is maximizing profits in the short run, the profit-maximizing quantity occurs at the minimum of the average total cost. Do you agree? Explain and show graphically.

Reference no: EM131389206

Questions Cloud

Marketing orientation different than other orientations : Can someone help me write the requirements in 2 paragraphs Name a company that you think might be successfully following a MARKETING orientation. What evidence do you see to indicate that? How is the Marketing orientation different than other orie..

Primary determinant of price elasticity of supply : Which of the following is a primary determinant of price elasticity of supply?

Who must bear the loss on the raised check : Assuming the bank acted in good faith and the alteration is not discovered and reported to the bank until an audit conducted thirteen months after the statement was received by Harrison's Store, who must bear the loss on the raised check?

Buying experience does the metamediary offer : What aspects of the car buying experience does the metamediary offer? Which aspects of the experience are missing? How does the metamediary overcome these missing aspects?

Sometimes described as the ideal market structure : Perfect competition is sometimes described as the ideal market structure. Why does P=MR=MC=AR=D for a perfectly competitive firm?

Is jane jone stop payment order effective against payor bank : On Wednesday, December 28, the payor bank makes payment of the check final. Is Jane Jones' stop payment order effective against the payor bank? Explain.

How a persuader could use social judgment theory : Relate a specific example of how a persuader could use Social Judgment Theory try to change an attitude you hold. Could it work? If so, why? If not, why not?

Identify three to four companies : Identify three to four companies for whom you want to work (your target market and how you can fulfill its needs/wants), and how you think your skill set will benefit them.

Are the extens liable under their indorsers liability : Although a default occurred at this time, it was not until April 2011 that Hane gave notice of the dishonor and made a demand for payment on the Extens as indorsers. Are the Extens liable under their indorser's liability?

User Account

All Pages