When is it the right time when a firm will enter a competitive market?

Q: Use a graph to demonstrate the circumstances that would prevail in a perfectly competitive market…

A: A perfectly competitive firm is price taker. The market price it faces is constant. This implies…

Q: What are the two essential characteristics of a competitive market?

A: ANS A competitive market is a market in which there exist many sellers selling homogeneous goods to…

Q: In the long-run, any perfectly competitive firm that produces will choose a quantity such that

A: The market is a location where the transaction of services and commodities takes place. It is…

Q: What is the Imperfect competition that refers to any form of market structure other than perfect…

A: Perfect competition refers to a market in which there is many seller and buyer dealing in a…

Q: Suppose the market for bottled water and the market for soft drinks both have large numbers of…

A: ANS For a market to be competitive the producers must sell homogeneous goods such that the consumers…

Q: Which are the most likely to be produced in a perfectly competitive industry?

A: A completely competitive market is one in which all businesses sell the same product and where…

Q: You read in a business magazine that farmers are reaping high profits. With the theory of perfect…

A: A perfect competition is a market structure where the price of the commodity sold is same and is…

Q: Why are perfectly competitive markets considered economically efficient?

A: There are several forms of the market that exists in the real world out of which perfect competition…

Q: When will a firm enter a competitive market?

A: Perfect competition refers to the situation where there are large number of prouder and consumers…

Q: In class we said that the firms like firm X in perfect competition are price takers, it implies that…

A: Perfect competition is the one of structure of market in which many numbers ofbuyers and sellers…

Q: Why can't firms enter the market in the short-run?

A: There are various types of market structures which have different characteristics of the number of…

Q: Assume firms decide to enter the market, how will this affect market price and quantity in the long…

A: In a market with perfect competition, every manufacturer offers the same products or services. There…

Q: What is the equilibrium or profit-maximizing quantity of production for a perfectly competitive…

A: Prefect competitive market is:- 1) in perfect competitive market, there are many number of sellers…

Q: What is the relationship between economies of scale and the level of market competition?

A: Economies of scale help more than just the company that produces the goods. Consumers will benefit…

Q: What are the characteristics of a perfectively competitive market?

A: There are different market structures with different characteristics.

Q: Under what conditions will a firm exit a market? Explain theoretically and graphically.

A: Short‐run supply curve- The short‐run supply curve of the firm is the portion of its marginal cost…

Q: Using graph, explain when the firm in a competitive market is in equilibrium?

A: A market is a place where the buyers and the sellers interact with each other and the exchange of…

Q: What are the options available to a firm when the market demand exceeds capacity?

A: Here's a set of features that assist companies in proactively addressing excess demand and…

Q: All buyers in a perfectly competitive market set prices to compete in their market? is it true or…

A: Marginal cost is the additional cost incurred in order to produce an additional unit of output.

Q: If new technology in a perfectly competitive market brings about a substantial reduction in costs of…

A: The term "perfect competition" refers to a fictional market structure in which all suppliers are…

Q: What happens when a perfectly competitive market is in equilibrium?

A: A perfectly competitive market is a market structure in which there are many buyers and sellers. The…

Q: You observed that in the long run, a profit-maximizing firm chose to exit a market. What can you…

A: There is a difference between the cost function in the short-run and in the long-run due to which…

Q: When will a firm neither enter or exit a competitive market?

A: In competitive market firms are free to enter and exit.

Q: How does a perfectly competitive firm decide what price to charge?

A: Firms in a perfectly competitive market cannot influence the price as there are large numbers of…

Q: Explain how economics make profit or loss when firms are perfectly competitive.

A: In a competitive market there are large number of firms producing similar and identical products…

Q: What kind of business is a water refilling station? What problems are solved with the help of a…

A: 1) A water refilling station is a business where the supplier provides safe, and drinkable water to…

Q: Why does perfect competitive market need to be maintained?

A: In an economy, a perfectly competitive market is the place where anyone is allowed to enter or exit…

Q: List the requirements for a perfectly competitive goods market.

A: For a particular production process, there has to be some factors of production available. For…

Q: Whe  Should a firm close or shut down in a perfect competitive market or firm?

A: In a perfect competition, a firm thinks to shut down when it faces losses. That is, when Revenues…

Q: Under what conditions will a firm exit a market?Explain

A: A market refers to the system in which the exchange of goods and services takes place in terms of…

Q: What are the requirements for a perfect competition market?

A: Competitive market: - it is a market condition where there are many buyers and many sellers in the…

Q: What are the long-run market equilibrium price and quantity of hibiscus plants? How many firms…

A:

Q: List and explain the importance of each of the five characteristics of purely competitive markets.

A: It is a market circumstance where there is an enormous number of seller of an item which can't be…

Q: 71. In the last video, what is the price the competitive firm receives for each bushel of apples it…

A: In a perfectly-competitive market, the firms are price takers. This means that regardless of the…

Q: Consider a market where the consum with no fixed cost and a constant marginal cost perfectly…

A: Given P = 100 – 10q MC = 20

Q: why competitive firms stay in business if they make zero profit?

A: First it should be clear that zero economic profit means that total Total Revenue is equal to the…

Q: the market price in a competitive industry were above its equilibrium level, what would you expect…

A: In a competitive market there are large number of firms producing similar and identical products.

Q: What is the short run Supply Curve for a competitive firm?

A: In perfect competition, the short-run supply curve is the marginal cost curve (MC) at and below the…

Q: What is Market competition?

A: The market is a place where the buyers and the sellers interact with each other and the exchange of…

Q: The market for which product best fits the definitionof a perfectly competitive market?a. eggsb. tap…

A: A market is the collection of buyers and sellers. It is the system in which buyers and sellers…

Q: What do you mean by the equilibrium of a firm?

A: According to the given question In Economics the firm is basically a central institution which helps…

Q: Assuming that the market for cigarettes is in perfect competition, what do allocative and productive…

A: In a perfectly competitive market, when both the profit-maximizing firms and the utility-maximizing…

Q: What is special about a purely competitive market?

A: A perfectly competitive market is the market in which there is perfect competition amongst buyers…