(Answered) Describe the characteristics of a competitive marketexplain

Economics

Describe the characteristics of a competitive market.

Explain how we can derive a supply curve.

Explain why competitive market earning zero economic profit in the long-run.

Explain how firms in the competitive market find the quantity that will maximize their profit.

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M92500563
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Business Economics

A study claims that 77 of children under the age of 13 in

A study claims that 77 % of children under the age of 13 in British Columbia have been vaccinated from the chicken pox. A survey of randomly selected residents of a certain city included 652 children who were under the a ...

From a random sample of 41 teens it is found that on

From a random sample of 41 teens, it is found that on average they spend 31.8 hours each week online with a standard deviation of 3.65 hours. What is the 90% confidence interval for the amount of time they spend online e ...

A market researcher wishes to determine the proportion of

A market researcher wishes to determine the proportion of American women who shop online. The results must be accurate at the 90% level of confidence with a maximum error of 2%. Calculate the minimum sample size needed t ...

A psychologist examining art appreciation selected an

A psychologist examining art appreciation selected an abstract painting that had no obvious top or bottom. Hangers were placed on the painting so that it could be hung with any one of the four sides at the top. The paint ...

How many different ways can a person select 3 textbooks

How many different ways can a person select 3 textbooks from a possible 18 If 70 % of the people the population have internet access from their home, find the probabilty that from a group of 20 people exactly 8 have acce ...

Explain a situation using the supply and demand for skilled

Explain a situation using the supply and demand for skilled labor in which the increased number of college graduates leads to depressed wages. Given the rising cost of going to college, explain why a college education wi ...

If all countries eliminated all barriers to immigration

If all countries eliminated all barriers to immigration, would global economic growth increase? Why or why not?

You work for a firm that manufactures dvd players your dvd

You work for a firm that manufactures DVD players. Your DVD players last an average of 800 days with a standard deviation of 200 days. You want to set the warranty length such that you only have to replace 1.5% of all th ...

A random sample ofnbsp87nbspeighth gradenbspstudents scores

A random sample of 87 eighth grade? students' scores on a national mathematics assessment test has a mean score of 279. This test result prompts a state school administrator to declare that the mean score for the? state' ...

Thirty-five percent of teens buy soda pop at least once

Thirty-five percent of teens buy soda (pop) at least once each week. Eleven kids are randomly selected. The random variable represents the number of these kids who purchase soda (pop) at least once each week. For this to ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert