I choose IKEA COMPANY Page VI of 9 Scenario7: a. Is your company operating in a...

Transcribed Image Text:

I choose IKEA COMPANY Page VI of 9 Scenario7: a. Is your company operating in a perfect market? If yes/no give reasons. b. Use a numerical data to show your firms output and revenue in a perfect market in the short run. Calculate TR, MR, AR, total profits, TC, MC and ATC. c. Draw TC and TR curves in one graph. d. Draw MC, ATC, AVC and MR in one graph. Show profit maximization, shutdown point and losses in the graph I choose IKEA COMPANY Page VI of 9 Scenario7: a. Is your company operating in a perfect market? If yes/no give reasons. b. Use a numerical data to show your firms output and revenue in a perfect market in the short run. Calculate TR, MR, AR, total profits, TC, MC and ATC. c. Draw TC and TR curves in one graph. d. Draw MC, ATC, AVC and MR in one graph. Show profit maximization, shutdown point and losses in the graph

Answer rating: 100% (QA)

a IKEA company is in a perfectly competitive market The major reasons for the perfectly competitive market Large numbers of buyers and sellers Under p... View the full answer