In perfect competition, the demand curve for the firm is: Groupof answer choices horizontal u-shaped due...
In perfect competition, the demand curve for the firm is:
Groupof answer choices
horizontal
u-shaped due to diminishing returns
formative
downward-sloping reflecting the law of demand
Homework Answers
The demand curve of perfectly competitive firm is horizontal line. This is because the price charged by the firm is same for all units. Hence the demand curve is a horizontal line.
Hence option first is the correct answer.
Add Answer to:
In perfect competition, the demand curve for the firm is:
Groupof answer choices
horizontal
u-shaped due...
Question 5 (Mandatory) (1 point) In the theory of perfect competition, a) the market demand curve...
Question 5 (Mandatory) (1 point) In the theory of perfect competition, a) the market demand curve is horizontal. b) the single firm faces a horizontal demand curve. ed c) the single firm faces a downward-sloping demand curve. d) the market demand curve is downward sloping. b and d Question 6 (Mandatory) (1 point) The perfectly competitive firm will seek to produce the level of output for which
Discuss the four characteristics of perfect competition demand curve of a perfectly competitive firm is horizontal?...
Discuss the four characteristics of perfect competition demand curve of a perfectly competitive firm is horizontal? price? B) Want to lower your price? Explain why or why not. change when market price changes? Explain. 3. A. B.Explain which of the four characteristics is primarily responsible for the fact that the C. If you owned a firm in a perfectly competitive market would you: A) Want to raise your D.Draw the demand curve for a firm under perfect competition. Would the...
What best describes the shape of the ATC curve for the monopolist? -Horizontal -Upward Sloping -U-shaped...
What best describes the shape of the ATC curve for the
monopolist?
-Horizontal
-Upward Sloping
-U-shaped
-Downward sloping
It is not not U-shaped. Would it be upward sloping?
Price 53 AR 26.553
identify all types of market competition where firms face a downward sloping demand curve a) perfect...
identify all types of market competition where firms face a downward sloping demand curve a) perfect competition b) monopolistic competition c) oligopoly d) monopoly
In the short run, there are many U-shaped cost curves. Which of the following explains why...
In the short run, there are many U-shaped cost curves. Which of the following explains why the ATC is that way in the short run? It is U-shaped because the minimum efficient scale is achieved. It is U-shaped because the AFC declines as more goods are produced. It is U-shaped because of economies and diseconomies of scale. It is not U-shaped. It is U-shaped because of increasing and decreasing returns. If a firm is experiencing economies of scale, what is...
D.Draw the demand curve for a firm under perfect competition. Would the demand curve change when...
D.Draw the demand curve for a firm under perfect competition. Would the demand curve change when market price changes? Explain.
Recall that in perfect competition a firm’s demand curve is a horizontal line drawn at the...
Recall that in perfect competition a firm’s demand curve is a
horizontal line drawn at the market price level and that P=MR. With
this in mind, based on the figure below, total costs are:
Group of answer choices
$720
$660
$576
$432
2.
Refer to the graph below. Total profit is:
Groupof answer choices
$243
$144
$288
$132
3.
Refer to the diagram below. Based on the information illustrated
in this graph, which of the following is an accurate
statement?...
The characteristics of perfect competition are: ___________________, _____________________, ________________________ ___________________, ___________________ 2. The demand curve in...
The characteristics of perfect competition are: ___________________, _____________________, ________________________ ___________________, ___________________ 2. The demand curve in perfect competition is: ______________ (Shape or slope) 3. The firm operates at the quantity where _________ equals ___________. 4. Total profit is equal to ___________ minus ________________. 5. The marginal revenue curve in perfect competition is: ______________ (Shape or slope) 6. The entrance of one or two new firms (in perfect competition) does what to market price? _______________________________________, 7. For a firm to operate,...
If any of the assumptions of perfect competition are violated, Select one: a. supply-and-demand analysis cannot...
If any of the assumptions of perfect competition are violated, Select one: a. supply-and-demand analysis cannot be used to study the industry. b.graphs with flat demand curves cannot be used to study the firm. c.graphs with downward-sloping demand curves cannot be used to study the firm. d. there may still be enough competition in the industry to make the model of perfect competition usable. e. one must use the monopoly model instead.
Total revenue is ‘bell shaped’ when demand is downward sloping. So when the demand is horizontal,...
Total revenue is ‘bell shaped’ when demand is downward sloping. So when the demand is horizontal, what shape will the total revenue curve have? Explain and illustrate.
Question 5 (Mandatory) (1 point) In the theory of perfect competition, a) the market demand curve is horizontal. b) the single firm faces a horizontal demand curve. ed c) the single firm faces a downward-sloping demand curve. d) the market demand curve is downward sloping. b and d Question 6 (Mandatory) (1 point) The perfectly competitive firm will seek to produce the level of output for which
Discuss the four characteristics of perfect competition demand curve of a perfectly competitive firm is horizontal? price? B) Want to lower your price? Explain why or why not. change when market price changes? Explain. 3. A. B.Explain which of the four characteristics is primarily responsible for the fact that the C. If you owned a firm in a perfectly competitive market would you: A) Want to raise your D.Draw the demand curve for a firm under perfect competition. Would the...
What best describes the shape of the ATC curve for the
monopolist?
-Horizontal
-Upward Sloping
-U-shaped
-Downward sloping
It is not not U-shaped. Would it be upward sloping?
Price 53 AR 26.553
In the short run, there are many U-shaped cost curves. Which of the following explains why the ATC is that way in the short run? It is U-shaped because the minimum efficient scale is achieved. It is U-shaped because the AFC declines as more goods are produced. It is U-shaped because of economies and diseconomies of scale. It is not U-shaped. It is U-shaped because of increasing and decreasing returns. If a firm is experiencing economies of scale, what is...
D.Draw the demand curve for a firm under perfect competition. Would the demand curve change when market price changes? Explain.
Recall that in perfect competition a firm’s demand curve is a
horizontal line drawn at the market price level and that P=MR. With
this in mind, based on the figure below, total costs are:
Group of answer choices
$720
$660
$576
$432
2.
Refer to the graph below. Total profit is:
Groupof answer choices
$243
$144
$288
$132
3.
Refer to the diagram below. Based on the information illustrated
in this graph, which of the following is an accurate
statement?...
If any of the assumptions of perfect competition are violated, Select one: a. supply-and-demand analysis cannot be used to study the industry. b.graphs with flat demand curves cannot be used to study the firm. c.graphs with downward-sloping demand curves cannot be used to study the firm. d. there may still be enough competition in the industry to make the model of perfect competition usable. e. one must use the monopoly model instead.
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