Purely competitive market at equilibrium point

For a purely competitive market at any equilibrium point on the short-run supply curve: (w) all firms have identical marginal costs. (x) economic profit is positive. (y) accounting profit is normal. (z) marginal revenue = average cost.

Hey friends please give your opinion for the problem of Economics that is given above.

   Related Questions in Microeconomics

  • Q : Coefficient of price elasticity Why the

    Why the coefficient of price elasticity of demand is is negative?

  • Q : Profits or losses at wholesale price on

    When the wholesale price per bushel of peaches is $9, Cling Peach Orchards would be probably to break even when its peach orchard produced approximately: (i) 2000 bushels of peaches. (ii) 2500 bushels of peaches. (iii) 3000 bushels of

  • Q : Question related to Gross domestic

    Proprietors' income $ 20, Compensation of employees 300, Consumption of fixed capital 15, Gross investment 80, Rents 10, Interest 20 ,Exports 30, Imports 50, Corporate profits 25, Taxes on production and imports 5 ,Net foreign factor income 0 ,Statistical discrepancy

  • Q : Problem on least monopsony power The

    The Firms which have at least some monopsony power will never: (i) Practice wage discrimination. (ii) Find out wage rates in portion by the number of workers it hires. (iii) Pay higher wages than would a firm hiring from the competitive labor market. (iv) Raise the em

  • Q : Seller in a monopoly market structure A

    A monopoly is a type of market structure in that one: (w) seller makes up the industry. (x) giant firm is a price taker. (y) barrier to entry exists. (z) giant firm is the particular buyer of resources.

    Q : Expected rate of return on R&D

    All of the following rise the expected rate of return on R&D expenditures, except: A) patents. B) trademarks. C) imitation by others. D) trade secrets

  • Q : Problem on quantity of Whopper Slushees

    When Adam Smith’s invisible hand executed with no government intervention, this market would be in equilibrium and quantity of Whopper Slushees demanded the quantity supplied would be equivalent at: (i) Price P1. (ii) Quantity Q1. (iii) Price P3. (iv) Quantity Q

  • Q : Price cross elasticity of demand among

    A 2 percent price cut for doodads causes gizmo sales to fall by 3 percent. The price cross elasticity of demand among these goods is approximately _____ and such goods are _____. (w)  2/3, substitutes. (x) 1.5, substitutes. (y) 2/3, complements.

  • Q : Consumers equilibrium in case of two

    Describe the consumer’s equilibrium in case of two commodities (IC) approach. Answer: Consumer equilibrium refers to a condition when he spends his specified

  • Q : Problem on long run competitive

    The technology is such that LAC is minimized at firm’s output equivalent to 10 and minimum LAC is Rs. 15. Assume that the demand schedule for the product is given as shown:

    Discover Q & A

    Leading Solution Library
    Avail More Than 1421665 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads
    No hassle, Instant Access
    Start Discovering

    18,76,764

    1933539
    Asked

    3,689

    Active Tutors

    1421665

    Questions
    Answered

    Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

    Submit Assignment

    ©TutorsGlobe All rights reserved 2022-2023.