Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 13, 2024

If market is purely competitive and price in the market is greater than firm's marginal cost (P> MC). It means firm is dealing with of

If market is purely competitive and price in the market is greater than firm's marginal cost (P> MC). It means firm is dealing with of resources. O No basis to determine under-allocation over-allocation O optimal allocation

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics

Authors: Roger A. Arnold

11th edition

1133561675, 978-1133561675

More Books

Students also viewed these Economics questions

Question

★★★★★

Review the website of Merrill Lynch (www.ml.com). How does Merrill Lynch leverage its global position to adjust to local markets through the Internet? Why is the Internet particularly relevant for...

Answered: 1 week ago

Question

★★★★★

An aircraft is in flight, and its $\mathrm{TAS}=220 \mathrm{~m} / \mathrm{s}$. The ambient temperature is $T=253 \mathrm{~K}$. What is the stagnation temperature on its leading edge?

Answered: 1 week ago

Question

★★★★★

Let X be a random variable with the negative binomial distribution with parameters r and p. (i) Let Y = X r. Find the probability function, the expectation, and variance of Y. (ii) Assume that, as r...

Answered: 1 week ago

Question

★★★★★

Data Integrity Company performed $1,000 of services on account for a customer on January 5. The same customer paid $600 of the January 5 bill on January 28. Requirement 1. Identify the three steps to...

Answered: 1 week ago

Question

★★★★★

Krist's Credit Card Statement had a dosing date of April 3, 2019. The balance on this statement was $373 and the APR of the Credit Card is 13.5% On the next billing cycle, Kristi had the following...

Answered: 1 week ago

Question

★★★★★

Aussie Replica Engines Limited (ABN 12 345 678 910) is registered for GST on an accrual basis. The company has already lodged their BAS for the quarter ended 30 September 2021 and paid the...

Answered: 1 week ago

Question

★★★★★

3. Mr. Ahmad has established a small craft shop in Salalah. Presented below is two of accounting procedures and practices in his business. For each of these items, list and explain the assumption,...

Answered: 1 week ago

Question

★★★★★

What is meant by planning or define planning?

Answered: 1 week ago

Question

★★★★★

Define span of management or define span of control ?

Answered: 1 week ago

Question

★★★★★

Discuss the impact of digital transformation on traditional banking operations. How can banks leverage technology to enhance customer experience and operational efficiency? Provide examples of...

Answered: 1 week ago

Question

★★★★★

What is meant by formal organisation ?

Answered: 1 week ago

Question

★★★★★

What is meant by staff authority ?

Answered: 1 week ago

Question

★★★★★

Unilever is considering replacing a machine to expedite its product development process. The financial data for the new improved machine is as follows: Investment cost $25,000 (installed) Estimated...

Answered: 1 week ago

Question

★★★★★

8. Find values in the Norwegian culture that you believe have been stable over a long period. Do you feel that these values say something about your own values?

Answered: 1 week ago

Question

★★★★★

2. It is the results achieved that are important.

Answered: 1 week ago

Question

★★★★★

3. What is the difference between perception and assessment of a particular everyday situation? Give at least three examples.

Answered: 1 week ago

Previous Question Next Question