In a perfectly competitive market, the marginal revenue will be equal to the price. In a perfectly competitive market, there will be a large number of buyers and sellers selling their goods at the same rate. The goods will be homogenous and there will be no difference in the goods sold. In such a case the marginal revenue will be equal to the price of the goods.
Let us assume a perfectly competitive market. A seller will be able to sell whatever quantity he wants at that rate. If the price of the goods is increased he will not have customers. There is no use in reducing the price as the customers are willing to buy the goods at a higher rate. The market is also able to buy all the goods sold by the seller so their marginal revenue will not decrease.
In a perfectly competitive market, the marginal revenue line is a horizontal line. this line will be equal to the price of the goods in the market.
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mathematical knowledge for calculations and data analysis, communication and interpersonal skills for working with clients, and problem-solving skills for handling any issues that arise.
The available options are:
A) we see countries specializing completely in the production of automobiles.
B) the quality of imported automobiles is less than it could be.
C) different countries may each have a comparative advantage in producing different types of automobiles.
D) consumers of automobiles have difficulty deciding what type of imported automobile to buy.
Answer:
C) different countries may each have a comparative advantage in producing different types of automobiles.
Explanation:
According to the principle of comparative advantage, Automobiles and many other products are differentiated. As a result of "different countries may each have a comparative advantage in producing different types of automobiles."
This is evident in the fact that some countries may have a comparative advantage to produce Trucks than cars, while some may have a comparative advantage in producing caterpillar than Trucks.
This is also similar in a variety of other products. The comparative advantage could be based on raw materials, expertise, climates, etc.
Answer:
I recommend Bank A to Robin as its interest rate on loan is the lowest at 3.95%
Explanation:
In calculating the interest in excel spreadsheet, I used the rate formula which is given as =RATE (nper, pmt, pv, [fv], [type], [guess]) where nper is the duration loan,pmt is the yearly loan repayment,present value of the loan is $25000 in all cases while fv,type and guess are not applicable and as a result are shown as zeros.
Find attached for detailed analysis.
Answer:
Capacity utilization rate of team 1=4200/4700=0,89
Capacity utilization rate of team 2=3700/4700=0,78
Explanation:
To get the maximum capacity of utilization capacity manager must consider the routine safety and the level where average cost per unit, so we use 4700 widgets per day to get the rate of team 1 and 2.
Capacity utilization rate of team 1=4200/4700=0,89
Capacity utilization rate of team 2=3700/4700=0,78