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Mice21 [21]
3 years ago
5

HOW PERFECTLY COMPETITIVE FIRMS MAKE OUTPUT DECISIONS?

Business
1 answer:
AnnZ [28]3 years ago
3 0

Answer:

The companies in the perfect competition opt to lower prices that generates maximum profits using the price demand relation.

Explanation:

The customers opt to products that are easy to access and are priced competitive which means the switching of customer to buy competitors in such markets are are very easy. Just take the example of Pepsi and Coke. The person who wants Coke would buy Pepse in instance if shopkeeper doesn't have Coke. This shows that the switching cost is very low and the price the competitor charges is almost the same. So this means that in such market the supplier would have to charge a price that brings higher sales to them every shopkeeper stores it in its shelve because it generate higher value for them too.

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Answer:

which country r u from?cuz I would have to research the banks according to your country.

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2 years ago
. A one-product firm estimates that its daily total cost function (in suitable units) is C (x) = x^3 - 6x^2 + 13x + 15 and its t
givi [52]

Answer:

Value of x maximising profit : x = 5

Explanation:

Cost : C(x) = x^3 - 6x^2 + 13x + 15 ; Revenue: R(x) = 28x

Profit : Revenue - Cost = R(x) - C(x)

28x - [x^3 - 6x^2 + 13x + 15]  = 28x - x^3 + 6x^2 - 13x - 15

= - x^3 +  6x^2 + 15x - 15

To find value of 'x' that maximises total profit , we differentiate total profit function with respect to x & find that x value.

dTP/dx = - 3x^2 + 12x + 15 = 0 ► 3x^2 - 12x - 15 = 0

3x^2 + 3x - 15x - 15 = 0  ► 3x (x +1) - 15 (x + 1) = 0 ► (x+1) (3x-15) = 0

x + 1 = 0 ∴ x = -1   [Rejected, production quantity cant be negative] ;

3x - 15 = 0 ∴ 3x = 15 ∴ x = 15/3 = 5

Double derivate : d^2TP/dx^2 = - 6x + 12

d^2TP/dx^2  i.e - 6x + 12  at x = 5 is -6(5) + 12 = - 30+ 12 = -8 which is negative. So profit function is maximum at x = 5

8 0
3 years ago
In the following situation, imagine you are a waiter at a restaurant. See if you can put this list of tasks in
MArishka [77]

Answer:

1. Answer a customer's question

2.Take someone's order

3.Bring out an order of food

4 Cleae a table

5.Fold napkins

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2 years ago
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Answer:

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mel-nik [20]

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