Explain why a perfectly competitive firm would or would not advertise.

Q: Perfectly competitive firm that makes economic loses in the short run must cease its operations. do…

A: Perfectly competitive firm is a price taker because there are many sellers in the market selling…

Q: what is difference between perfect and pure competition? Highlight the assumptions of perfect…

A: Pure Competition is a subpart of perfect competition Pure competition is a market situation where…

Q: Explain briefly why a firm under perfect competition is a price taker not a price maker?

A: A market is the collection of buyers and sellers. There are different forms of markets based on…

Q: What are the assumptions of perfect competition?  What are the prospects for profitability in the…

A: The perfect competition is a theoretical market structure, which follows some assumptions. In this…

Q: Using diagrams, explain why a perfect competition firm can only make a normal profit in the long…

A: The perfect competition is the Market where there are large number of buyers and sellers who deals…

Q: If Fatimah's Bee Farm is a perfectly competitive firm, the demand for Fatimah's honey has? 1. Zero…

A: Perfect competition refers to the market structure in which there are many buyers and sellers of a…

Q: is walmart an example of perfect competition ? Discuss the product they sell, entry and exit to the…

A: Wal-Mart is not the best example of perfect competition. As it can be configured as an oligopoly.…

Q: Why does a purely competitive firm not charge price above the market price?  Why does it not charge…

A: In a perfect competition market structure, there exist a large number of buyers and a large number…

Q: Refer to the graphs above of perfectly competitive firms. Which of the following statements is…

A: In graph 1, the firm is earning economic profit as price is above the ATC. The profit maximizing…

Q: What is the shape of the demand curve of a firm under perfect competition

A: # A firm under perfect Competition is a price taker. This is because due to large number of firm's…

Q: Analyze why perfectly competitive firms are not able to raise prices

A: Answer - Perfectly competitive Firm - Perfectly competitive firm are the firms who are price taker…

Q: Explain why perfectly competitive firms are classified as a price taker

A: Answer - Price Taker Firm - The price taker firm are those firm who has not the ability to influence…

Q: Discuss the long-run benefits of running a firm in perfect competition.

A:

Q: A large city has nearly 500 restaurants, with new ones entering regularly as the population grows.…

A: A perfectly competitive market alludes to a market structure in which there are countless firms and…

Q: t competition, in the short run there is insufficient time for new firms to enter the Industry which…

A: Perfect competition is the market structure where there are large no of buyers and sellers selling…

Q: Explain Long run equilibrium for a perfect competition

A: The long-run equilibrium point for a perfectly competitive market is said to have occurred where the…

Q: What is the shape of the demand curve faced by a firm under perfect competition?

A: Perfect competition, according to economic theory, occurs when all companies sell identical items,…

Q: Explain how a firm would maximise its profit, assuming that it faces conditions of perfect…

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

Q: Perfect Competition; How can the demand curve facing the firm be horizontal if the markket demand…

A: Perfectly competition is characterized by the presence of large number of buyers and sellers. the…

Q: Explain why a fast-food restaurant often displays characteristics of perfect competition.

A: The structure of a market where the consumption or production of goods and services do not tend to…

Q: Explain the feature of the large number of the sellers and the buyers in the perfect competition

A: Meaning of Market: The term market refers to the situation under which the producers or the…

Q: Why is Perfect Competition an ideal market structure? Please explain

A: In a market, a perfect competition is considered as an ideal market when there is other markets like…

Q: In a perfectly competitive market, many firms sell an identical product. True False

A: Four different types of market structures in an economy are perfect competition, monopoly, oligopoly…

Q: Explain why a perfectly competitive firm won’t advertise.

A: In perfect competition, there are a large number of buyers and sellers where the latter do not have…

Q: why does a purely competitive firm not charge a price below the market price?

A: A purely competitive firm is in the market with the following assumptions: 1. Identetical products…

Q: Goldbar is an energy bar firm selling in a perfectly competitive market but is considering the…

A: A theoretical market structure is referred to as perfect competition. There are no monopolies under…

Q: State and examine the characteristics for a perfectly competitive firm such as Dodi Ltd selling…

A: The market structure can be divided into four based on the degree of competition and the type of…

Q: What prevents a perfectly competitive firm from seeking higher profits by increasing the price that…

A: In a perfectly-competitive market, there are theoretically infinite number of frim. Each firm here…

Q: What are some characteristics of perfect competition?  Is the Banana market a perfect competition?…

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: Explain how the long run differs from the short run in pure competition.

A: Perfect competition is a form of market in which a large number of perfectly informed buyers and…

Q: Why does a purely competitive firm not charge price above the market price?

A: In a perfectly competitive market there are large number of numbers of sellers selling homogeneous…

Q: Which of the following is most likely to operate under a perfectly competitive market? 1) A…

A: Perfect competition is a market condition there is a large number of buyers and sellers selling an…

Q: 2. List the features that characterize a perfect competitive market.

A: 2. Feature of perfect competition market:- * Large number of buyers and sellers. * homogeneous/…

Q: It is difficult for firms to enter and exit a perfectly competitive market. True False

A: In perfect competition, there are many firms selling identical goods.

Q: Identify a perfectly competitive firm

A: A perfectly Competetive firm is a price taker it means it has to accept the market prevailing price.…

Q: The firm in pure competitive

A: A theoretical market structure that meets the following requirements is known as pure or perfect…

Q: condition for profit maximization for a pure

A:

Q: Classify the statements based on whether each describes a perfectly (purely) competitive firm…

A: A perfectly competitive firm is a price taker, which means it takes the price set by the market…

Q: explain how the costs of the firm are calculated, and the way that prices are determined in perfect…

A: Perfect competition refers to a market situation in which there are many buyers and sellers in the…

Q: Explain how purely competitive firms can use the marginal-revenue–marginal-cost approach to maximize…

A: The use of marginal cost and marginal revenue is such that when prices are more than the minimum…

Q: Explain perfect competition in detailed explain profit maximization graphically

A: Perfect competition is a type of market which is characterized by a large number of buyers and…

Q: Explain, with the aid of a graph, the short-run position of a perfectly competitive firm making…

A: In a circumstance of amazing contest, regardless of whether an organization acquires benefits or…

Q: Explain how the firm would maximise its profit, assuming that it faces conditions of perfect…

A: The term "perfect competition" refers to a market structure that exists only in theory. There are no…

Q: Describe a perfectly competitive market structure and its characteristics?

A: Perfectly competitive market structure is the market structure in which,there is no or negligible…