what are the characteristics of a perfect competition firm? Using Hot Dogs, Grph the market and the
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Question:
- what are the characteristics of a perfect competition firm?
- Using Hot Dogs, Grph the market and the individual supply, demand and costs for Hot dogs side by side. make sure to include the S.R. and L.R profits.
- What is Monopoly
- Graph a Monopoly
- Compare the price, quantity, and ATC of a monopoly with a perfectly competitive firm. who is more efficient and why?
- What is an absolute and comparative advantage?
- Give an example from your own life where you have an absolute, but not a comparative advantage with someone else.
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