Energizer is gaining market share against competitorDuracell and its profit is rising despite the sharp rise in the price of zinc, a key battery ingredient. the market for batteries has _______. A. an HHI that is equal to approximately 1,400 B. no barriers to entry C. a small number of interdependent firms D. many firms […]
Willais anoysterfarmer and the world oyster market is perfectly competitive. The market price is $10 a crate . Willa sells 200 crates a week and her marginal cost is $13 a crate . Willa is ______. A. not maximizing profit because the world oyster market is perfectly competitive B. not maximizing profit because there is […]
Tom’s Family Photosis a photographic portrait business in a perfectly competitive market in Lincoln . The market price of a portrait is $17.50 . The table shows Tom’s total costs. How many portraits does Tom sell in an hour and what is Tom’s economic profit in the short run? Tom’s Family Photos sells nothing portraits […]
Rosegrowing is a perfectly competitive industry and all growers have the same costs. The market price of roses is $29 a bouquet and each grower maximizes profit by producing 1 comma 800 bouquets a week. Average total cost of producing roses is $21 a bouquet and average variable cost is $16 a bouquet . Minimum […]
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