Profit maximizing perfectly competitive firm

Assignment Help Business Economics

Reference no: EM13798672

For a profit maximizing monopolist, _____. In contrast, for a profit maximizing perfectly competitive firm, _________.

a. P=MR=MC; P<MR=MC

b. P>MR>MC; P>MR=MC

c. P>MR=MC; P=MR=MC

d. P>MR<MC; P=MR>MC

Reference no: EM13798672

Questions Cloud

Receive an inheritance : If you receive an inheritance of $10,000 today, how long do you have to invest it at 8% per year to be able to withdraw $2,000 every year forever? Assume the 8% per year is a return that you can depend on forever.

Justifications for government intervention in the economy : What are the four reasons or justifications for government intervention in the economy? Describe two in details, providing an example of each.

Research the organizations to identify : Identify at least two professional organizations in a chosen field. Research the organizations to identify the following:

Firms can have-accounting profits and economic losses : Firms can have: Accounting profits and economic losses, Accounting profits and economic profits, Accounting losses and economic losses, Accounting losses and economic profits.

Profit maximizing perfectly competitive firm : For a profit maximizing monopolist, _____. In contrast, for a profit maximizing perfectly competitive firm, _________.

Calculate profit at the profit-maximizing price and quantity : A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. The total fixed costs for the implants division is 50000 and the marginal co..

Monopoly on a certain class of cardiac implants : A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. The total fixed costs for the implants division is 50000 and the marginal co..

Point of diminishing returns : Explain in your own terms what is meant by a "Point of diminishing returns." Relate it to cost, effort, and return on investment.

A single-price monopolist sets price : A single-price monopolist sets price?

User Account

All Pages