Why is it that every consumer and every firm in a perfectly competitive market is a 'price
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
The total supply and demand determine the ...View the full answer
Answered By
Pharashram rai
i am highly creative, resourceful and dedicated freelancer an excellent record of successful classroom presentations and writing . I have more than 4 years experience in tutoring students especially by using my note making strategies and engineering field . Especially adept at teaching methods of maths and writing , and flexible teaching style with the willingness to work beyond the call of duty. Committed to ongoing professional development and spreading the knowledge within myself to the blooming ones to make them fly with .
4.80+
65+ Reviews
270+ Question Solved
Related Book For
Question Posted:
Students also viewed these Managerial Accounting questions
-
A student in a principles of economics course makes the following remark: The economic model of perfectly competitive markets is fine in theory but not very realistic. It predicts that in the long...
-
The industry demand curve in a perfectly competitive market is given by the equation: P = 160 2Q, and the supply curve is given by the equation: P = 40 + Q. The upward-sloping supply curve...
-
Indicate whether each of the following statements is true or false, and explain why. A. In long-run equilibrium, every firm in a perfectly competitive industry earns zero profit. B. Perfect...
-
What is the MFD? UFD? How are they related?
-
For fully developed laminar flow through a parallel-plate channel, the x-momentum equation has the form (d 2 u/dy 2 ) = dp/dx = constant. The purpose of this problem is to develop expressions for the...
-
Consider a weak acid HX. If a 0.10 M solution of HX has a pH of 5.83 at 25C, what is DG for the acids dissociation reaction at 25 C?
-
Wyndham Worldwide is a leading global provider of travel- related services, including lodging, timeshare exchange, and rentals. The company consists of more than 8,100 franchised hotels that include...
-
As the in-charge senior auditor on the audit engagement for JA Tire Manufacturing for the year ended December 31, 2019, you are responsible for performing risk assessment procedures related to the...
-
6. A temporary pedestrian bridge is being designed in Bath for pedestrians to cross the river Avon. A contractor has been employed and the engineering company has decided to support the bridge using...
-
E9-5 On June 1, 2021, Florida National leased a building. The lease agreement calls for Florida National to make lease payments of $3,618.18 each month for the next two years, with the first lease...
-
What is a maintained assumption? What maintained assumptions are used in the model of individual choice? What is the difference between labor and human capital? Is decreasing returns to scale the...
-
What determines the size of price elasticity of demand? How do they affect price elasticity of demand?
-
In Exercises 3234, perform the indicated operations and write the result in standard form. 2V-49+3V-64 21
-
Why do you think there is such a massive difference in the wages paid to employees across the European Union? TheEU is a single marketplace, yet the minimum wages are different. Explain.
-
What implications are there for businesses that have workers in several different EU countries? What are the ethical issues of offering differential pay? Twenty-two out of twenty-eight governments of...
-
What role, if any, should the HR department play in attempting to harmonize pay across a multinational organization? Explain. Twenty-two out of twenty-eight governments of the European Union member...
-
There are rumors that the European Parliament is broadly in favor of imposing a blanket EU minimum wage. In traditionally high cost countries, wages will be driven down and in most of the rest of the...
-
For some organizations self-managed teams seem to be the way forward, but why do they need an extended period of time before they are fully effective? It seems to be the case that self-managed teams...
-
Prepare a 2018 balance sheet for Rogers Corp. based on the following information: Cash = $127,000; Patents and copyrights = $660,000; Accounts payable = $210,000; Accounts receivable = $115,000;...
-
By referring to Figure 13.18, determine the mass of each of the following salts required to form a saturated solution in 250 g of water at 30 oC: (a) KClO3, (b) Pb(NO3)2, (c) Ce2(SO4)3.
-
How do threads facilitate inter-process communication in modern operating systems, and what are some of the common IPC mechanisms used with threads?
-
Mr. Rafael is a sole trade who maintain his non-current asset at cost. On 31 December 2020, he owned the following non-current asset which had been depreciated on a yearly basis: Asset Lorry...
-
Problem: Module 3 Textbook Problem 11 Learning Objectives: .3-9 Identify the primary characteristics of sole proprietorships, partnerships, and corporations 3-12 Show how issuing different classes...
Study smarter with the SolutionInn App