The condition for a profit maximising point is where MR = MC.
When MR is greater than MC, the firm should increase production to take hold of the extra profit, therefore Mara should increase production.
Answer:
1. True
2. False
Explanation:
A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
An example of perfect competition is the market for farm produce.
I hope my answer helps you
W(-7,-4) indicates the reflection across y=x. (x,y) transformed to (y,x). w(-7,-4) =w(7,4).
w'(7,-4) indicates the reflection across y-axis. (x,y) is transformed to (-x,y). w(-7,-4) = w(7,-5).
Explanation:
The rules for reflecting over the X axis is to negotiate the value of the y coordinate of each point and x is same.
After reflection the coordinates of the figure can be determined. If you reflect over the x-axis, then keep the x-coordinate and take the opposite of y- coordinate. If you reflect over y-axis, then take the opposite of x- coordinate and keep y- coordinate.
I would say it’s true because it does have some facts in it
