WebbA very important difference between perfect competition and monopoly is: the monopoly faces a downward-sloping demand curve, while the perfect competitor faces a … WebbEconomics. Economics questions and answers. QUESTION A very important difference between perfect competition and monopoly is: O the monopoly faces a downward-sloping demand curve, while the perfect competitor faces a horizontal demand curve. O the monopoly faces an inelastic demand curve, while the perfect competitor faces an …

1) Perfect Compe??on

WebbA dotted line drawn straight up from the profit-maximizing quantity to the demand curve shows the profit-maximizing price which, in Figure 8.6, is $800. This price is above the average cost curve, which shows that the firm is earning profits. Step 3: Calculate Total Revenue, Total Cost, and Profit. WebbUnder perfect competition, a demand curve of the firm is perfectly elastic because the firm can sell any amount of goods at the prevailing price. So even a small increase in price … can female dogs produce milk if not pregnant

(PDF) A comparison between conditions of perfect competition …

Webb10 jan. 2024 · Perfect competition is an economic model of market structure. Economists use it to study behavior and outcomes in highly competitive markets — highly … WebbA perfect competition is the market situation where there are a large number of sellers competing to sell a homogenous product at a price fixed by the market. In such a case, a uniform price prevails in the market. This is decided by the industry itself (market forces of demand and supply ). There are a large number of buyers and sellers, which ... WebbQuestion: Question 2 Multiple Choice Questions a) The monopolist's demand and marginal revenue curves are i) Exactly the same ii) Steeper iii) Slightly flatter b) Which of the following statement is true? i) The monopolist, but not the perfect competitor, produces where MC equals MR. ii) Neither the monopolist nor the perfect competitor produce … can female genetic hair loss be reversed