The marginal revenue for a perfectly competitive firm is equal to the market price. Why is the
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 88% (9 reviews)
Marginal revenue is less than price for a monopolist This is becaus...View the full answer
Answered By
Rashul Chutani
I have been associated with the area of Computer Science for long. At my university, I have taught students various Computer Science Courses like Data Structures, Algorithms, Theory of Computation, Digital Logic, System Design, and Machine Learning. I also write answers to questions posted by students in the area of and around Computer Science.
I am highly fortunate to receive great feedback on my teaching skills that keeps me motivated. Once a student sent me an email stating that I had explained to him a concept better than his professor did.
I believe in the fact that "Teaching is the best way to learn". I am highly fascinated by the way technology nowadays is solving real-world problems and try to contribute my bit to the same.
Besides tutoring, I am a researcher at the Indian Institute of Technology. My present works are in the area of Text Summarization and Signal and Systems.
Some of my achievements include clearing JEE Advanced with an All India Rank of 306 out of 1.5 million contesting candidates and being the Department Ranker 1 at my University in the Department of Computer Science and Engineering.
I look forward to providing the best Tutoring Experience I can, to the student I teach.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Why is the marginal revenue curve for a perfectly competitive firm the same as its demand curve?
-
Why is the marginal revenue of a perfectly competitive firm equal to the market price?
-
Why is marginal revenue always less than price for a monopolist but equal to price for a perfectly competitive firm?
-
Determine the equations for the voltage and instantaneous Power in the network in Figure P 9.2 4 2225 A Figure P 92
-
What is data redundancy, and which characteristics of the file system can lead to it?
-
Donnas Dairy Free Donuts (DDFD) prepares financial statements on an annual basis and has a December 31, 2023 year-end. On July 1, 2023, DDFD purchased a one-year insurance policy for $24,000 cash....
-
Describe how those who contract AIDS are discriminated against.
-
The August 31 bank statement of Well Healthcare has just arrived from United Bank. To prepare the bank reconciliation, you gather the following data: a. The August 31 bank balance is $4,540. b. The...
-
- The market value of the assets in the plan as of January 1 , 2 0 2 3 was $ 1 , 9 8 2 , 6 0 0 ; - The Company ABC contributes the normal cost for 2 0 2 3 on June 3 0 , 2 0 2 3 ; and - The pension...
-
1. What were the differences in the sources of employees for VividSky as it developed? 2. What are the benefits and problems of using equity to compensate employees? What about using pay? 3. Could...
-
Why does the monopsony equilibrium give rise to a deadweight loss?
-
Why can a monopolist's marginal revenue be negative for some levels of output? Why is marginal revenue negative when market demand is price inelastic?
-
A powerful motorcycle can accelerate from rest to 26.8 m/s (100 km/h) in only 3.90 s. (a) What is its average acceleration? (b) How far does it travel in that time?
-
Explain the key problems that management accounting is faced with in a cross-organizational supply chain setting.
-
Describe how SCMAC helps identify and manage transaction costs in supply chain relationships.
-
Explain why input-oriented profit sharing is not effective in supply chains and outline a more appropriate profit-sharing arrangement.
-
The Edge Corp., a manufacturer and seller of electric guitars, sources input products for its guitars from various suppliers. Recently, there have been massive problems with some suppliers. In...
-
Discuss how collaboration as a form of managing supply chains can be a powerful relational resource that improves competitive advantage.
-
The assembly consists of a 3-kg pulley A and 10-kg pulley B. If a 2-kg block is suspended from the cord, determine the distance the block must descend, starting from rest, in order to cause B to have...
-
Identify one local business that uses a perpetual inventory system and another that uses a periodic system. Interview an individual in each organization who is familiar with the inventory system and...
-
Distinguish between explicit and implicit costs, giving examples of each. What are some explicit and implicit costs of attending college? Why does the economist classify normal profit as a cost? Is...
-
Which of the following are short-run and which are long-run adjustments? a. Wendys builds a new restaurant. b. Harley-Davidson Corporation hires 200 more production workers. c. A farmer increases the...
-
Complete the table directly below by calculating marginal product and average product. Plot the total, marginal, and average products and explain in detail the relationship between each pair of...
-
Identify one type of business and describe that business and it's lending needs. Then describe what their potential lending needs may? Manufacturing Retail Wholesale Service Construction
-
Many investors believe the slope of yield curve is a leading economic indicator. Do you agree? Why? https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics?
-
Analyze the process for monitoring claims data for detecting potential fraud and abuse and describe how it is a crucial financial management process?
Study smarter with the SolutionInn App