Competitive market, Business Economics

Assignment Help:
You are given the following functions in a fully competitive market:
Market demand function: Qd = 20 – 3P
Market supply function: Qs = 4 + P
Where P is price
A) In which price should a fully competitive firm sell its product?
B) Compute the average revenue and the marginal revenue of a fully competitive firm
C) Illustrate in diagrams both the curves of the average and the marginal revenue.

Related Discussions:- Competitive market

Actual and theoretical price adjustment, For any stock splits (if there wer...

For any stock splits (if there were any it will look like the screen below) compare the actual and theoretical price adjustment.  For example, on the day that a 2-for-1 split is ef

Privatisation, definition, advantages and disadvantages of privatisation?

definition, advantages and disadvantages of privatisation?

Economic problems, what are the economic problems facing any individual in ...

what are the economic problems facing any individual in the economy

Shares, How to record shares for a company for a project

How to record shares for a company for a project

Railways economics, AsEvaluate the implications of implementing this ideal ...

AsEvaluate the implications of implementing this ideal product mix in Transnet Freight Rail.

What is the infant industry argument, What is the Infant Industry argument?...

What is the Infant Industry argument? Several governments seek to protect involving industries by premature competition. Infant industries have potential comparative benefit b

What are the differences among developing economies, What are the differenc...

What are the differences among developing economies? Developing countries are diverse. They can be different in terms of as: • Resource Endowment for example, a country is

Calculate the weights for the long-term financing sources, Calculate the "w...

Calculate the "weights" for the long-term financing sources: Total Stockholder Equity, Long Term Debt, and Preferred Stock (if there is any of this).  Do this in two ways: (a

Define balance of payments in international capital flows, Define the balan...

Define the balance of payments problem in international capital flows. Balance of payments (BoP): It inflows capital as like: • Foreign direct investment (FDI) into machiner

Evaluating projects incrementally, Ask What is the meaning of evaluating pr...

Ask What is the meaning of evaluating projects incrementallyquestion #Minimum 100 words accepted#

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd