Can the perfectly competitive firm affect the market price? Why or why not? Why does marginal revenue not change when the perfectly competitive firm sells
Can the perfectly competitive firm affect the market price? Why or why not? Why does marginal revenue not change when the perfectly competitive firm sells more output? What happens to economic profits when the firm produces where marginal costs equal the marginal revenue? When should the perfectly competitive firm shut down? Are firms permitted to enter or leave an industry in the short run? What happens in an industry that has economic profits in the long run? (HINT: are firms attracted to this industry?) Where do the MC, MR, and ATC curves meet in the long run in perfectly competitive markets?
How it Works
It only takes a couple of minutes to fill in your details, select the type of paper you need (essay, term paper, etc.), give us all necessary information regarding your assignment.
Once we receive your request, one of our customer support representatives will contact you within 24 hours with more specific information about how much it'll cost for this particular project.
After receiving payment confirmation via PayPal or credit card – we begin working on your detailed outline, which is based on the requirements given by yourself upon ordering.
Once approved, your order is complete and will be emailed directly to the email address provided before payment was made!