pure competition
Not what you're looking for?
In pure competition:
the optimal price-output solution occurs at the point where marginal revenue is equal to price
a firm's demand curve is represented by a horizontal line
a firm is a price-taker since the products of every producer are perfect substitutes for the products of every other producer
a and b only
a, b, and c
Purchase this Solution
Solution Summary
This explanation provides you a comprehensive argument relating to pure competition.
Solution Preview
In pure competition:
the optimal price-output solution occurs at the point where marginal revenue is equal to price
a firm's demand curve is represented by a horizontal line
a firm is a price-taker ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
Recent Feedback
- "I read your comments, and thank you for this feedback. Do I need to find other studies that applied this methodology Ive used? That's where I'm stuck at."
- "Thank you kindly sir. "
- "Excellent and well explained. --Thank you kindly. "
- "Awesome notes. I appreciate you."
- "I have the follow-up project and I will assign that to you very soon. "
Purchase this Solution
Free BrainMass Quizzes
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.