UNIVERSITY CANADA https://ucanwvest.ca/ P= M*V/Y 2. If you are operating a business in a perfectly competitive market. You can sell as much as at the market price. Why can you not simply increase your profits by selling a highest quantity? Answer: at high level of production marginal cost and average cost of production will rise. 3. Your company operates in a perfectly competitive market. Your Manager told you that advertising can help you increase your sales in the short run. What kind of advertising campaign you will start for vour product and how much gain is expected from an effective advertisement? 10:46 AM Ps ^ E= ) ENG 2020-03-18
UNIVERSITY CANADA https://ucanwvest.ca/ P= M*V/Y 2. If you are operating a business in a perfectly competitive market. You can sell as much as at the market price. Why can you not simply increase your profits by selling a highest quantity? Answer: at high level of production marginal cost and average cost of production will rise. 3. Your company operates in a perfectly competitive market. Your Manager told you that advertising can help you increase your sales in the short run. What kind of advertising campaign you will start for vour product and how much gain is expected from an effective advertisement? 10:46 AM Ps ^ E= ) ENG 2020-03-18
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter8: Perfect Competition
Section: Chapter Questions
Problem 1SCQ: Firms ill a perfectly competitive market are said to be price takers that is, once the market...
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Transcribed Image Text:UNIVERSITY
CANADA
https://ucanwvest.ca/
P= M*V/Y
2. If you are operating a business in a perfectly competitive market. You can sell as much as at the
market price. Why can you not simply increase your profits by selling a highest quantity?
Answer: at high level of production marginal cost and average cost of production will rise.
3. Your company operates in a perfectly competitive market. Your Manager told you that advertising
can help you increase your sales in the short run. What kind of advertising campaign you will start
for vour product and how much gain is expected from an effective advertisement?
10:46 AM
Ps
^ E= ) ENG
2020-03-18
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