Why does the individual seller have no effect on the market price under conditions of perfect competition?

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Basic Economics

ISBN: 978-1111826642

16th edition

Authors: Frank V. Mastrianna

See More Books

Question Posted: Mar 08, 2018 09:53 AM

See More Questions

How do economic profits disappear in the long run under conditions of perfect competition?
Apple never stops reinventing both design and technology to remain competitive around the world. Its iPod has become an icon, holding an impressive 70 percent share of the U.S. market for digital...
Felix G. Rohatyn, a well-known financier, published a letter on the editorial page of the New York Times on July 1, 1990. He wrote: I was startled and dismayed by [an earlier Times editorial]...
Raheem & Co. purchased a fixed asset on 1.4.2018 for Rs.2,50,000. Depreciation is to be provided @10% annually according to the Straight-line method. The books are closed on 31st March every year....
Suggest reasonable explanations for each of the following observations. (a) Both hydrogens are anti to each other in the most stable conformation of formic acid. (b) Oxalic acid has a dipole moment...
Which of the following would be a typical consulting engagement activity performed by the internal audit function? a. Testing compliance with accounts payable policies and procedures. b. Determining...
Consider the output of a regression using one explanatory variable on $n=3$ observations. The residuals and leverages are: Compute the PRESS statistic. i 1 2 3 Residuals ei Leverages hi 3.181...
On January 1, 2010, Drennen, Inc., issued $3 million face amount of 10-year, 14% stated rate bonds when market interest rates were 12%. The bonds pay semiannual interest each June 30 and December 31...
Gordon Growth Company is expected to pay a dividend of $3.4 next period and dividends are expected to grow at 3% per year. The required return is 11%. What is the current price? What is the value of...
Gleed Company manufactures products Alpha, Beta, and Gamma from a joint process. Production, sales, and cost data for July follow. Required: 1. Assuming that joint costs are allocated using the...
What characteristics or conditions must be present for perfect competition to exist?
Explain how, by examining a marginal revenue and marginal cost graph, you can determine the following: (a) Whether a firm is making an economic profit or suffering a loss (b) If the firm is suffering...
Solve each rational inequality. Give the solution set in interval notation. 4 2 x IV 3 1 x
Hund's Rule predicts that O electrons occupy all the orbital of a given subshell singly before pairing begins. O electrons must have opposite spins to share an orbital. O electrons in an orbital have...
1. For a time series with horizontal pattern, methods that are generally used for forecasting are: a. Simple linear regression and multiple regression b. Holt's linear exponential smoothing c. Moving...
Suppose Tilia Thyme can choose between expenditures today and expenditures tomorrow. She has $25,000 in assets and an income today of $45,000.Given the state of the economy, she expects no raise next...
Money and the Money Market Using the money market graph, show the effects of an increase in the price level. Please describe the changes beside your graph. (5 marks) In an economy for the month of...
Below is from one of paragraphs of the article. They are raising interest rates before that happens because monetary policy exerts a gradual influence on economic conditions, and they are concerned...
Find the derivative of the function. s(t) = 1 + sin t/1 + cos t
For a nonzero constant a, find the intercepts of the graph of (x 2 + y 2 ) 2 = a 2 (x 2 - y 2 ). Then test for symmetry with respect to the x-axis, the y-axis, and the origin.
Explain the difference between the budget deficit and the national debt. If the deficit gets turned into a surplus, what happens to the debt?
Explain in words why the structural budget might show a surplus while the actual budget is in deficit. Illustrate your answer with a diagram likeFigure. T = Taxes-Transfers Surplus Deficit Gross...
If the Federal Reserve lowers interest rates, what will happen to the government budget deficit? (What will happen to tax receipts and interest expenses?) If the government wants to offset the...
Ned needs to produce more of his two products in order to increase his net income and has found a way to increase the limited resource, machine hours. He has two products, hammers and screwdrivers.....
What effect does an antagonist drug have over the receptors ?
Read this article on the differences and Comparisons between UNIX and LINUX http://www.diffen.com/difference/Linux_vs_Unix, then do some research and post your thoughts on each of the systems. Based...

Why does the individual seller have no effect on the market price under conditions of perfect competition?

Question:

Step by Step Answer:

The individual seller has no effect on the market price under co...View the full answer

Basic Economics

Students also viewed these Economics questions