Answer:
The correct answer is option c.
Explanation:
A perfectly competitive market has a large number of buyers and sellers. The firms are price takers and the price is determined by the market forces. Thus the monopoly firms face a horizontal demand curve. This horizontal line represents price, average revenue, and marginal revenue. The equilibrium is obtained where price, (average revenue and marginal revenue) is equal to marginal cost. There is no restriction on entry and exit of firms in the long run. That's why firms face a break-even in the long run.
While in a monopoly market there is a single firm. This firm fixes price higher than marginal cost. The demand curve of the monopoly is a downward sloping showing relatively elastic demand. A monopoly firm can earn profits in both the short run as well as the long run.
Answer:
Perfect competition is an ideal type of market structure where all producers and consumers have full and symmetric information, no transaction costs, where there are a large number of producers and consumers competing with one another. Perfect competition is theoretically the opposite of a monopolistic market.
Explanation:
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I have the same question if anyone can help please let me know
The environmental protection agency was formed in 1970, Exchange in the immediate environment is this an example of Governmental bodies and the firm.
<h3>What was the goal of the 1970 Environmental Protection Act quizlet?</h3>
- This act's objective is to "promote productive and joyful harmony between man and his environment." In 1970, the Environmental Protection Agency (EPA) was established. The cleanup of toxic waste left behind from decades of unrestricted dumping was its primary focus.
- The Environmental Protection Agency's principal responsibility is to regulate environmental law. It was founded in 1970. They put in place programs to reduce pollution and protect the environment. Describe the federal rules and regulations in place to protect the environment from air pollution.
To learn more about Environmental Protection Agency refer,
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Answer:
C.
Explanation:
The individual that acts as the principal Federal official for domestic incident management is referred to as the Secretary of Homeland Security. The individual in this role is responsible for overseeing the proper functioning of the Department of Homeland security which deals with counter-terrorism, cyber-security, aviation security, and border security among other things. Today the individual in this position is Chad Wolf.
