Would the market for dry cleaning be perfectly competitive in large cities such as San Francisco or New York City? Why or why not? How about in a small city such as Athens, Ohio, or Meredith, New Hampshire?
Answer to relevant QuestionsTrue or false: In a constant- cost industry, a tax of a constant, fixed amount on each unit of output sold will not affect the amount of output sold by a perfectly competitive firm in the long run. Explain.A competitive firm has the cost structure described in the following table. Graph the marginal cost, average variable cost, and average total cost curves. How many units of output will it produce at a market price of 32? ...You are the owner/ manager of a small competitive firm that manufactures house paints. You and all your 1000 competitors have total cost curves given by TC = 8 + 2Q + 2Q2,And the industry is in long- run equilibrium. Now you ...Name ten elements that you have access to in macroscopic quantities as a consumer here on Earth. During the Iran–Iraq war, the same arms merchant often sold weapons to both sides of the conflict. In this situation, a different price could be offered to each side because there was little danger that the country offered ...
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