Pure competition is said to be the most competitive of all the market structures. If this is
Question:
Pure competition is said to be the most competitive of all the market structures. If this is true, why is it that no one firm is concerned with what any other firm does in a purely competitive market?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (2 reviews)
No one firm in pure competition is concerned wit...View the full answer
Answered By
Rinki Devi
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions.
Hi there! Are you looking for a committed, reliable, and enthusiastic tutor? Well, teaching and learning are more of a second nature to me, having been raised by parents who are both teachers. I have done plenty of studying and lots of learning on many exciting and challenging topics. All these experiences have influenced my decision to take on the teaching role in various capacities. As a tutor, I am looking forward to getting to understand your needs and helping you achieve your academic goals. I'm highly flexible and contactable. I am available to work on short notice since I only prefer to work with very small and select groups of students.
I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and helped them achieve great subject knowledge.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Economics Theory And Practice
ISBN: 9781118949733
11th Edition
Authors: Patrick J. Welch, Gerry F. Welch
Question Posted:
Students also viewed these Business questions
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
-
The Company Lalo Company, headquartered in Vaduz, is a company listed in Amsterdam, Paris and Zurich. It is the third largest small home appliance manufacturer in Europe. The company was founded in...
-
Who are the uppers in your life? Do you have any downers or vultures?
-
An inventor has developed a refrigeration unit that maintains the cold space at 10C, while operating in a 25C room. A coefficient of performance of 8.5 is claimed. How do you evaluate this?
-
A mast is mounted on the roof of a house using bracket ABCD and is guyed by cables EF, EG, and EH. Knowing that the force exerted by cable EG at E is 24.6 lb, determine the moment of that force about...
-
The valuation of unlisted shares is highly subjective, especially when the object is to fix a fair price for acquisition by the company or by the owner's fellow-shareholders. You are required (a) to...
-
Desert Products uses a job- costing system with two direct- cost categories (direct materials and direct manufacturing labor) and one manufacturing overhead cost pool. Desert allocates manufacturing...
-
FINANCIAL PROJECTIONS AND CAPITAL EXPENDITURE OF ELSIES LIMITED Elsies Limited is a nationally recognised supplier of catering equipment. It offers safe and secure shopping via its online store and...
-
How do firms in each of the four market structures differ in terms of their number of rivals, control over price, product differentiation, ability to earn economic profit over the long run, and...
-
Into which of the four market structures would you place each of the following? Why would you make the classification? a. A small organic farm growing herbs, arugula, and tomatoes on 5 acres b. A...
-
Ski n Cycle purchased Elan 200 skis for $492 per pair and priced them to give a 40% rate of markup on selling price. When this model was discontinued, the store marked down its remaining stock by...
-
Carriage Incorporated manufactures horse carriages. The company has two divisions, Wheels and Assembly. Because of different accounting methods and inflation rates, the company is considering...
-
How are Diagnosis-Related Groups (DRG) and Relative Value Units (RVU) used for developing budgets for hospitals and practices?
-
Find a news article about a current event or issue. Be sure to cite it and briefly summarize it. How do the ratios of the pentad function within the article? What insights do they provide regarding...
-
Discuss an infographic about cultural differences between thai employees and australian based on Hofstede's (1980) model of Intercultural Dimensions and Hall's (1963) high-context versus low-context...
-
Each student should discuss control volume in this discussion. Think creatively to find some unusual applications of the open system concept. answer the following for your assigned system: Describe...
-
Section C The programs at Denison consume the services of departments as follows: That is, oncology patients consume 80 percent of the services of the radiology department but only 50 percent of the...
-
How does health insurance risk differ from other types of insurance risk (e.g., automobile or homeowners insurance)? What is the difference between cost sharing and cost shifting? Is retiree health...
-
Some retailers in developing countries sell products from developed countries with high wages, but assure customers that these goods are produced under high standards of quality. Is demanding that...
-
Many European policy analysts criticize the European Union and its member states for heavily subsidizing basic research. Instead, they say that applied research should be encouraged to generate...
-
Its widely believed that space exploration will become commonplace in the near future and that there will be huge strides in satellite use. Does this mean that the United States should have policies...
-
P 2 1 . 2 ( L O 3 , 4 ) , AP Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials...
-
United States Motors Incorporated ( USMI ) manufactures automobiles and light trucks and distributes them for sale to consumers through franchised retail outlets. As part of the franchise agreement,...
-
Joker & Wild LLC has just been sued by its audit client, Canasta, Incorporated, claiming the audit failed to be conducted in accordance with generally accepted auditing standards, lacked the...
Study smarter with the SolutionInn App