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gogolik [260]
3 years ago
10

For a perfectly competitive​ firm, the price of its good is equal to the​ firm's marginal revenue because

Business
1 answer:
puteri [66]3 years ago
8 0
Because -

individual perfectly competitive firms cannot influence the market price by changing their output
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The financial crisis of 2008 demonstrated the flaw in a bottom-up detailed approach to calculating risk. There are
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Answer:

B

Explanation:

8 0
3 years ago
Which fees was John charged on his checking account during this statement period?
Zigmanuir [339]

The overdraft fee is the fee that John was charged on his checking account.

<h3>What is an overdraft fee?</h3>

This is a fee that has to be paid due to the fact that a payment has been authorized.

The overdraft fee is usually paid to cover transactions if there are not enough funds in the account.

<h3>The checking account</h3>

This is a current account that lets deposit and easily withdraw for the sake of transactions.

Read more on  the overdraft fee here: brainly.com/question/25532516

7 0
2 years ago
In the heading of a cover letter, which of the following formats should be used for the date?
loris [4]
<span>It should be laid out like this example:(November 10, 2015)</span>
7 0
3 years ago
Suppose that hca and tenet were to merge. ignoring potential antitrust problems, this merger would be classified as a:
inessss [21]
The appropriate response is a Horizontal merger. An even merger is a merger or business union that happens between firms that work in a similar space, as rivalry has a tendency to be higher and the cooperative energies and potential picks up in piece of the pie are considerably more prominent for consolidating firms in such an industry.
6 0
3 years ago
If the demand curve for a life-saving medicine is perfectly inelastic, then a reduction in supply will cause the equilibrium pri
never [62]

Answer:

If the demand curve for a life-saving medicine is perfectly inelastic, then a reduction in supply will cause the equilibrium price to <u>rise and the equilibrium quantity to stay the same</u>.

Explanation:

Perfectly inelastic demand curve indicates the quantity demanded for the life-saving medicine remains the same or does not change in response to a change in price.

Since a part of the law of supply states that the lower the quantity supplied, the higher the price; a reduction in the supply of the life-saving medicine will increase its price.

The combining effect of the two above will lead to an increase in the equilibrium price while the equilibrium quantity will remain the same as it will not respond to the change in price.

The attached graph explains this more clearly. In the graph, the demand curve DD is used to represent the perfectly inelastic demand curve for the life-saving medicine. Therefore, the quantity remains at q no matter the changes, either increase or decrease, in price. Movement from the supply curve S1 to S2 indicates a reduction in supply of the life-saving medicine which causes an increase in the equilibrium price from Po to P1 while the equilibrium quantity stays at q.

This therefore shows that if the demand curve for a life-saving medicine is perfectly inelastic, then a reduction in supply will cause the equilibrium price to <u>rise and the equilibrium quantity to stay the same</u>.

8 0
3 years ago
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