Pure competition is said to be the most competitive of all the market structures. If this is
Question:
Pure competition is said to be the most competitive of all the market structures. If this is true, why is it that no one firm is concerned with what any other firm does in a purely competitive market?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
No one firm in pure competition is concerned wit...View the full answer
Answered By
Rinki Devi
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions.
Hi there! Are you looking for a committed, reliable, and enthusiastic tutor? Well, teaching and learning are more of a second nature to me, having been raised by parents who are both teachers. I have done plenty of studying and lots of learning on many exciting and challenging topics. All these experiences have influenced my decision to take on the teaching role in various capacities. As a tutor, I am looking forward to getting to understand your needs and helping you achieve your academic goals. I'm highly flexible and contactable. I am available to work on short notice since I only prefer to work with very small and select groups of students.
I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and helped them achieve great subject knowledge.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Economics Theory And Practice
ISBN: 9781118949733
11th Edition
Authors: Patrick J. Welch, Gerry F. Welch
Question Posted:
Students also viewed these Business questions
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
-
The Company Lalo Company, headquartered in Vaduz, is a company listed in Amsterdam, Paris and Zurich. It is the third largest small home appliance manufacturer in Europe. The company was founded in...
-
Who are the uppers in your life? Do you have any downers or vultures?
-
An inventor has developed a refrigeration unit that maintains the cold space at 10C, while operating in a 25C room. A coefficient of performance of 8.5 is claimed. How do you evaluate this?
-
Matthew Company uses the retail method to estimate the cost of ending inventory for its monthly interim reports. From the following facts, estimate Matthews ending inventory at cost for the end of...
-
What is the magnetic field at the center of the loop in Figure P24.17? Figure P24.17 2.0 cm 5.0 A
-
On February 12, 2002, Nancy Trout and Delores Lake formed Kingfisher Corporation to sell fishing tackle. Pertinent information regarding Kingfisher is summarized as follows: Kingfisher's business...
-
a) Discuss how your attitude to power and authority would differ from that of your team members. How flexible would you be to adapt to the teams expectations based on their cultural diversity? b)...
-
How do firms in each of the four market structures differ in terms of their number of rivals, control over price, product differentiation, ability to earn economic profit over the long run, and...
-
Into which of the four market structures would you place each of the following? Why would you make the classification? a. A small organic farm growing herbs, arugula, and tomatoes on 5 acres b. A...
-
In Exercises 14, a statement Sn about the positive integers is given. Write statements S 1 , S 2 , and S 3 , and show that each of these statements is true. S n : 2 is a factor of n 2 - n.
-
(A) Consider a particle in one dimension in the presence of a potential V = a|x|; a > 0. The potential is infinite for x 0. Using WKB approximation find its energy. [note: the potential is with no...
-
3. A battery-powered toy travelling at 2.2 m/s drives off a diving board which is at a height above the water. If the impact speed of the toy is 7.3m/s, find the height of the diving board above the...
-
The lowest resonant frequency, in a certain string clamped at both ends, is 50 Hz. When the string is clamped at its midpoint, what is the lowest resonant frequency? (Ans: 100 Hz)
-
Let's say an object moves along the x - axis with the following velocity given as, vx(t) = (a +43 t - 3y ++ 76 t5), where a, , y, and 8 are just constants. (A) Determine an expression for the...
-
9. An aluminum rod with resistivity, p, is shaped into a circular loop such that the rod diameter, d, is much smaller than the radius of the loop, a. The loop is placed in the presence of an...
-
Calculate the continuation value of KMS using your reproduction of Table 18.8 from Problem 14, and assuming an EBITDA multiple of8.5. Year Income Statement ($000s) Sales Costs Except Depreciation...
-
Continuation of Exercise 4-83. (a) What is the probability that the first major crack occurs between 12 and 15 miles of the start of inspection? (b) What is the probability that there are no major...
-
Some retailers in developing countries sell products from developed countries with high wages, but assure customers that these goods are produced under high standards of quality. Is demanding that...
-
Many European policy analysts criticize the European Union and its member states for heavily subsidizing basic research. Instead, they say that applied research should be encouraged to generate...
-
Its widely believed that space exploration will become commonplace in the near future and that there will be huge strides in satellite use. Does this mean that the United States should have policies...
-
Keller Industries started business part way through the current year and prepares annual financial statements. Keller Industries currently pays $10,000 of salaries (wages) per week for a 5-day work...
-
Ayayai Ltd. reviews its assets every fiscal year for potential asset impairments. In the current year Ayayai realizes through its impairment assessment that a specialized machine has a recoverable...
-
The Sandman Company paid $100 for inventory it intended to sell for $150. Sandman received a $10 rebate from the vendor one month after purchase. However, due to a decrease in demand, the item's...
Study smarter with the SolutionInn App