1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
nikdorinn [45]
3 years ago
12

As long as it does not shut down, a perfectly competitive firm earns the maximum profit possible as long as it operates so that

Social Studies
2 answers:
Marat540 [252]3 years ago
7 0

Answer:

usatestprep is D

Explanation:

I just did it

Alik [6]3 years ago
3 0

The correct answer is D.

Perfect competitive firms are price-takers, operate in markets with many other competitors, manufacture homogenous products with perfect substitutives provided in the same market, and operate in markets with free entry and exit (no barriers). These features generate a perfectly elastic demand function, an hortizontal line for a certain price level, as the firm has to assume the existing price in the market.

Marginal cost and marginal revenue are compared in order to decide which is the optimal amount of production to maximize the firm's profits. This happens in the scenario in which marginal revenue equals marginal costs.

Marginal revenue (MR) is the amount earned for selling an extra unit, which in the perfect competition scenario equals the market price of the product. The marginal cost (MC) is the cost of producing on extra unit of output.

  • When MC>MR, of course producing one more unit is unprofitable and therefore, unoptimal.
  • When MC<MR the extra unit is profitable, then the firm should increase the production until reaching MC=MR, that is the point at which they should not move anymore.

You might be interested in
Which statement best completes the diagram?
den301095 [7]

Answer:

c. most people live in urban areas.

8 0
3 years ago
Read 2 more answers
In January, Home Depot offered a 10% off coupon and Lowe’s did not. In February, Lowe’s offered a 10% off coupon and Home Depot
QveST [7]

Answer: Tiit -for -tat strategy

Explanation:

Tiit -for -tat was introduced by Anatol Rapoport. He developed a strategy in which each participant in follows a course of action consistent with his opponent's previous turn. In other words, the opponents previuous moves are mimicked.This is an action is of mutual benefit. This strategy is an example of reciprocal altruism and  cooperation.

6 0
3 years ago
WILL GIVE BRANLEIST
Morgarella [4.7K]

Answer:

a. an aristrocacy and a democracy

Explanation:

Aristocracy refers to the rule by elite citizens. Democracy is a form of government in which all eligible citizens have an equal say on their rights

5 0
3 years ago
Read 2 more answers
Which two issues played the GREATEST roles in causing the Civil War
Elan Coil [88]
May I know the answer choices, so that I may help you?
4 0
3 years ago
Read 2 more answers
How did this pattern affect the voting power of the North and South in the U.S. Senate?
kykrilka [37]
<span>The admission of these 4 states affected the voting power of slave and free states in the U.S. senate is because 3 of the states were free slave states and 1 of the states was a slave state. So that would probably mean that the free slave states would probably win against the slave states. Hope this helped!!</span>
3 0
3 years ago
Other questions:
  • After allied forces in north africa were halted at the at the kasserine pass, which general regrouped them and masterminded an i
    12·1 answer
  • A stimulus for which there is no conditioned response is called a(n) __________ stimulus.
    14·2 answers
  • Abraham has been working hard to reach his full potential, both in his relationship with his family and at work. he wants to bec
    13·1 answer
  • Whats two consequneces of being sexually active
    5·2 answers
  • The process by which a society decides how power and resources will be distributed within that society is called
    5·1 answer
  • In indias cast system the kshartriyas class contains these people
    12·1 answer
  • In 1911 the government broke up the Standard Oil Company under the Sherman Antitrust Act. Since then the government has chosen n
    7·1 answer
  • The citation "Rev. Rul. 2006-8, 2006-1 C.B. 541," refers to ________.A. the eighth ruling of 2006 found on page 541 in Vol. 1 of
    11·1 answer
  • Accurate numbers on sexual harassment are difficult to determine due to:
    14·1 answer
  • What did the fifteenth amendment do
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!