Why does demand equal marginal revenue for perfectly competitive firms

1 answer:

6 0

Specifically, price only equals marginal revenue in perfect competition. Price equals MR in perfect competition because your demand curve is horizontal. No matter how much you produce, it always sells at the same price. In other market structures, you can raise or lower prices.

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When 8 is subtracted from Ollie’s age, the result is the same as subtracting 16 from 3 times his age.

Scilla [17]

X - Ollie's age

8 is subtracted from Ollie's age = x-8
the result is the same as
subtracting 16 from 3 times his age = 3x-16

$x-8=3x-16 \\
x-3x=-16+8 \\
-2x=-8 \\
x=4$

Ollie is 4 years old.

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2 years ago

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Which organism is a consumer? Oak tree Rosebush Prairie dog Tomato plant

BlackZzzverrR [31]

Answer:

prairie dog

Step-by-step explanation:

because this eats the other organisims

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The prices of all college textbooks follow a bell-shaped distribution with a mean of $113 and a standard deviation of $12. Using

Soloha48 [4]

Step-by-step explanation:

In statistics, the empirical rule states that for a normally distributed random variable,

68.27% of the data lies within one standard deviation of the mean.

95.45% of the data lies within two standard deviations of the mean.

99.73% of the data lies within three standard deviations of the mean.

In mathematical notation, as shown in the figure below (for a standard normal distribution), the empirical rule is described as

$\Phi(\mu \ - \ \sigma \ \leq X \ \leq \mu \ + \ \sigma) \ = \ 0.6827 \qquad (4 \ \text{s.f.}) \\ \\ \\ \Phi(\mu \ - \ 2\sigma \ \leq X \ \leq \mu \ + \ 2\sigma) \ = \ 0.9545 \qquad (4 \ \text{s.f.}) \\ \\ \\ \Phi}(\mu \ - \ 3\sigma \ \leq X \ \leq \mu \ + \ 3\sigma) \ = \ 0.9973 \qquad (4 \ \text{s.f.})$

where the symbol $\Phi$ (the uppercase greek alphabet phi) is the cumulative density function of the normal distribution, $\mu$ is the mean and $\sigma$ is the standard deviation of the normal distribution defined as $N(\mu, \ \sigma)$ .

According to the empirical rule stated above, the interval that contains the prices of 99.7% of college textbooks for a normal distribution $N(113, \ 12)$ ,

$\Phi(113 \ - \ 3 \ \times \ 12 \ \leq \ X \ \leq \ 113 \ + \ 3 \ \times \ 12) \ = \ 0.9973 \\ \\ \\ \-\hspace{1.75cm} \Phi(113 \ - \ 36 \ \leq \ X \ \leq \ 113 \ + \ 36) \ = \ 0.9973 \\ \\ \\ \-\hspace{3.95cm} \Phi(77 \ \leq \ X \ \leq \ 149) \ = \ 0.9973$