Will a Perfectly competitive market display productive efficiently? Why or why not?

Q: Which are the most likely to be produced in a perfectly competitive industry?

A: A completely competitive market is one in which all businesses sell the same product and where…

Q: What are the assumptions of perfect competition?  What are the prospects for profitability in the…

A: The perfect competition is a theoretical market structure, which follows some assumptions. In this…

Q: was the west fraser timber company always been classified as perfectly competitive market in the…

A: When talking about the competitiveness of a firm, it can be said that it is determined by the market…

Q: Which of the following is not an essential condition of pure competition?

A: Perfectly competitive market refers to the market structure where the large number of buyers and…

Q: must each perfectly competitive firm be in equilibrium if the industry is in the long-run…

A: Perfect competition refers to the situation where there are large number of prouder and consumers…

Q: Choose the one alternative that best completes the statement or answers the question. i) Perfect…

A: Option D ie considerable advertising by individual firm In case of Perfect Competition, there are…

Q: Which of the following is NOT a characteristic of perfect competition?

A: To find: Which of the following is NOT a characteristic of perfect competition?

Q: Which of the following conditions describe a perfectly competitive market?

A: Perfectly competitive market is a rare type of market which is difficult to find in the real…

Q: Analyze why perfectly competitive firms are not able to raise prices

A: Answer - Perfectly competitive Firm - Perfectly competitive firm are the firms who are price taker…

Q: Why do you think a firm in a perfectly competitive industry does not have market power?

A: The market is a location where the transaction of services and commodities takes place. It is…

Q: Would independent trucking fit the characteristics of a perfectly competitive industry? and why?

A: A perfectly competitive market is where there are many numbers of buyers and sellers, with…

Q: Consider the following goods and services. Which are the most likely to be produced in a perfectly…

A: Perfectly competitive market: It has the greatest possible level of competition.

Q: In a perfectly competitive industry, what mechanism that adjusts price to minimum long-run average…

A: Firms are considered perfect competition when these conditions happen: (i) the industry consists of…

Q: In the long run, perfectly competitive firms make zero economic profit. If this is the case, why…

A: When a company's economic profit is zero, it is in a state of normal profit, which is why normal…

Q: Under what conditions should a competitive firm shut down in the short run?

A: In the short term, a corporation that operates at a loss (where the income is less than the overall…

Q: How does a perfectly competitive firm decide what price to charge?

A: Firms in a perfectly competitive market cannot influence the price as there are large numbers of…

Q: Why would a firm that incur choose to produce rather than to shut down?

A: When the revenue from the sale of the goods or services produced is insufficient to pay the variable…

Q: Is it true that a firm in a perfectly competitive market will never be able to earn positive…

A: There are different types of market which are broadly grouped as: Perfect competition and Imperfect…

Q: Fabulous Farms operates in a perfectly competitive market. Which of the following is required for…

A: In a perfect competition market there is large number of buyer and sellers of good, also in…

Q: explain three conditions that characterise a perfectly competitive market

A: To promote the trade of products and services, a marketplace where two or more parties could meet.…

Q: Why is Perfect Competition an ideal market structure? Please explain

A: In a market, a perfect competition is considered as an ideal market when there is other markets like…

Q: There is no incentives to innovate in a perfect competition market. Do you agree? Explain.

A: When talking about perfectly competitive market, it is the place with a large number of buyers and…

Q: Which of the following is true for a perfectly competitive industry?

A: option 3 is rhe correct answer The firm in industry produce standardized products  It's dentical…

Q: The market equilibrium in a perfect competition market is determined by millions of sellers and…

A: Perfect competition can be defined as the form of market where the large number of sellers sell the…

Q: Many firms, especially in perfectly competitive markets, file for bankruptcy every year, yet they…

A: Firms will shut down when their cost exceed revenue and they cannot continue to compete in the…

Q: What are some characteristics of perfect competition?  Is the Banana market a perfect competition?…

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: Explain the implications of large number of buyers and sellers in a perfectly competitive market.

A: In a perfectly competitive market structure there are large number of buyers and sellers and all the…

Q: Looking around your city, what businesses do you think come closest to the model of a perfectly…

A: Looking around, we see that there are very very few businesses that fit into the description of a…

Q: How equilibrium price is determined under perfect competition?

A: Under perfect competition, both producers and consumers are price takers.

Q: The decision to continue competing in a market depends upon the answers to the following questions…

A: To sustain in the market ones have to bear the fixed cost in the short run as we know.  Compete with…

Q: Which of the following is most likely to operate under a perfectly competitive market? 1) A…

A: Perfect competition is a market condition there is a large number of buyers and sellers selling an…

Q: Write a short note on perfectly competitive market structure.

A: # Broadly there are 4 market structures namely perfect Competition market, monopoly market,…

Q: Perfectly competitive firms will react to profits in the long run by _______ production.

A: The market is a location where the transaction of services and commodities takes place.

Q: How does a firm in perfect competition decide what price to charge? What quantity to produce?…

A: A perfect competition(PC) market is one with many consumers and sellers producing identical…

Q: How do the entry and exit of firms in a purely competitive industry affect resource flows and…

A: Answer - Need to find - How do the entry and exit of firms in a purely competitive industry affect…

Q: why competitive firms stay in business if they make zero profit?

A: First it should be clear that zero economic profit means that total Total Revenue is equal to the…

Q: In a perfectly competitive market all producers sell

A: Firms under perfect competition cannot influence the price at which goods and services are sold in…

Q: A single firm in a perfectly competitive market is relatively small compared to the rest of the…

A: In the ‘perfect competition(PC)’ all firms sell ‘identical products’ that are homogeneous. Here all…

Q: What are the characteristics needed for a perfectly competitive market?

A: In a perfect competitive market, there is a number of buyers and sellers, selling similar products.…

Q: Consider the following two industries the rice industry and labtop industry. Which industry would…

A: Answer - Perfect Competition - Perfect competition is the market structure which lots of firm and…

Productive and Allocative Efficiency Analysis

Productive efficiency, also referred to as production efficiency is a term in economics describing the level at which a company is operating at its maximum capacity. Beyond this point, the entity will be unable to manufacture any additional goods without cutting down another product’s production level. This occurrence is an outcome of production happening alongside a Production Possibility Frontier (PPF).