Describes perfectly and monopolistically competitive firm

Assignment Help Business Economics

Reference no: EM13801024

For each of the following characteristics, say whether it describes a perfectly competitive firm, a monopolistically competitive firm, both, or neither.

A. sells a product differentiated from that of its competitors

B. has marginal revenue less than price

C. earns economic profit in the long run

D. produces at the minimum of average total cost in the long run

E. equates marginal revenue and marginal cost

F. charges a price above marginal cost

Reference no: EM13801024

Questions Cloud

What were the banks reactions : What are some of the steps that the Federal Reserve took in 2008 to prevent further contractions of the economy and money supply? What were the banks' reactions?

Write a full description of the contingency plan to go along : The vendor that you hired is not performing. Identify the risk response that is the most appropriate for this risk, and write a full description of the contingency plan to go along with the selected response.

Calculate and graph what happens to G-AD-GDP : Calculate and graph what happens to G, AD, GDP, and Prices if the government increases government spending by 100 billion and the MPC = .80. Calculate and graph what happens to T, C, AD, GDP, and Prices if the President raises taxes by 100 billion an..

Describes perfectly and monopolistically competitive firm : For each of the following characteristics, say whether it describes a perfectly competitive firm, a monopolistically competitive firm, both, or neither. sells a product differentiated from that of its competitors. has marginal revenue less than price

Calculate the initial velocity of the arrow : Mitch is out in the backwoods scaring up some dinner with his bow and arrows. He shoots an arrow horizontally 1.25 m above the ground. He completely misses the rabbit he was shooting at and the arrow plunges into the ground 150 m away. Calculate t..

Engineering group about the new product : You just had Terry, one of your team members from marketing, give a presentation to the engineering group about the new product and its importance to the company's product line.

Under the learning curve model : 18 years ago, a certain part cost $325. The cost index was 244 and now the index is 329. What cost below is closest to the estimated current cost for the item? Item number 16 took 190 minutes to make. If the learning curve rate is 90%, how long did t..

Identify your potential stakeholder and their characteristic : Identify your potential stakeholders and their characteristics in your organization using the tools and techniques described in PMBOK.

User Account

All Pages