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

Business enviornment fact-finding, 1. The student is required to research a...

1. The student is required to research a business topic, drawing information from a number of sources, prepare and give a talk to a group, and answer questions. Simply presenting

Effectiveness of market approaches in promotion development, Analyse the ef...

Analyse the effectiveness of market approaches into promoting development. Assessing the effectiveness of some system, planned, market or mixed depends onto the choice of displ

Use of risk management techniques significant in is projects, Why is the us...

Why is the use of risk management techniques becoming increasingly significant in IS projects? IS projects: It is like projects in many other disciplines, are becoming i

Economics, MBA Economics Assignment Question 1: Many analysts in both deve...

MBA Economics Assignment Question 1: Many analysts in both developed and developing worlds have heavily criticized the cases of monopolies. Discuss using relevant examples whether

Control the circulation of money in the economy, QUESTION (a) State whe...

QUESTION (a) State whether the following statements are TRUE or FALSE. Clearly explain your answer. (i)The Keynes liquidity Preference theory stipulates that money demand is

What is failure effectiveness of multi-national companies, What is the fail...

What is the failure effectiveness of multi-national companies (transnationals) in the promotion of development? TNC FDI failure into hindering development: • TNCs are accus

Acknowledge a union through a card check, 1) True or False: Elections under...

1) True or False: Elections under the NLRA were intended to replace the need for striking in order to have a union recognized. 2) True or False: Companies can voluntarily acknow

Estimate the short-run and long-run elasticities, Consider the following mo...

Consider the following model: Y*i= β 0 X t β 1e U t a)  Using the stock adjustment model, estimate the short-run and long-run elasticities b) Comment on the following pr

Principles of Economics, Short Answer Questions. assignment is based on ans...

Short Answer Questions. assignment is based on answers which align to DADA style. pls can u send a quote to me

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