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!
Perfectly Competitive Markets
* Characteristics of Perfectly Competitive Markets
1. Price taking
2. Product homogeneity
3. Free entry and exit
* Price Taking
- The individual firm sells a small share of total market output and, thus, cannot influence the market price.
- The individual consumer buys too small share of industry output to have any impact on market price.
* Product Homogeneity
- The products of all the firms are perfect substitutes.
- Examples
* Free Entry and Exit
- Buyers can switch easily from one supplier to another.
- Suppliers can enter easily or exit a market.
- Possibility of other objectives
1) Revenue maximization
2) Dividend maximization
4) Short-run profit maximization
- Implications of nonprofit objective
- Long run profit maximization is valid and does not exclude possibility of altruistic behavior.
CASE STUDY IN RELATION WITH TOTAL REVENUE,AVERAGE REVENUE AND MARGINAL REVENUE
Resilience in Addition to Strength: The BOP has been in overall surplus since 1996-97 with forex reserves rising, on an average, by $8.50 billion per annum during 1996-97 to 2
1) The $787 billion stimulus package, "American Recovery and Reinvestment Act" passed in Winter 2009 contained a mix of tax rebates, tax credits and increases in various transfer p
The Effects of Advertising on the Demand Curve: Advertising targets to: • Change the slope of the demand curve which means make it more inelastic. This is done by generat
BUREAUCRACY: M de Gournay, an economist of France, first coined the word Bureaucracy in the eighteenth century to refer to "a fourth or fifth form of Government" in which "off
about opean market economy
there are 1 million hours of labor available for making cars in the north, and another 1 million hours of labor available for making cars in the south. in a no-trade world, let''s
Hello there! I am currently doing an MBA course about the financial crisis which is quite challenging. Today we were given a question about the topic: Long term capital management
Consumers purchase a house or multiple dwellings for a number of reasons. But what is the rationale behind their decision to buy and/or sell a house, flat or apartment? Do consumer
How to use Demand and Supply tools to analyze the case of the Egyptian labor market?
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: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd