(Answered) In a perfectly competitive industry if each firm is

Economics

In a perfectly competitive industry if each firm is identical then we can calculate the number of firms in the industry by

a. Multiplying the amount produced by each firm times the total production of the good.

b. Dividing the total amount produced in the market by the amount a representative firm produces.

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9878307
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question how is poverty measured in the us is this an

Question: How is poverty measured in the US? Is this an effective measurement? What are some of the issues that the government faces in trying to move people out of poverty? What are the principle challenges faced in mov ...

Question - a collectivity consists of three persons a b c

Question - A collectivity consists of three persons, A, B, C. Demand for some collectively provided service, x, being for person A, P = 40/x; for person B, P = 20/x; and for person C, p = 10/x. The marginal cost is 10. ( ...

Question net present value 3 points totalthe city of

Question: Net Present Value (3 points total) The city of Corvallis is deciding whether or not to undertake a project to improve the quality ofthe city's drinking water. The project would require an immediate payment of $ ...

Question in the graph below assume that the market demand

Question: In the graph below, assume that the market demand curve for labor is initially D1. The market supply curve for labor is indicated with figure "S". Wage rate is depicted on the other things held constant vertica ...

Question you are a slovak immigrant steelworker in

Question: You are a Slovak immigrant steelworker in Pennsylvania. What reasons would you have for joining a union? Describe your hopes and aspirations for yourself and your family. You must specifically use Thomas Bell?s ...

Question from 1947 to 1973 the us economy went through five

Question: From 1947 to 1973, the US economy went through five recessions, while Europe and Japan did not have any. Since 1982, however, cyclical downturns in Europe and Japan have been at least as frequent as in the US. ...

Question the argument for free trade has been a main theme

Question: The argument for free trade has been a main theme of international trade economic theories for centuries. Donald Trump believes that a tariff of approx. 30-40% should be placed on products coming into America f ...

Question there has been a marked decline in unionizationa

Question: There has been a marked decline in unionization. A. describe 3 strategies unions have used to stem the decline in their membership. B. Explain and show graphically why an efficient contract requires the union t ...

Question an internet service provider isp is contemplating

Question: An Internet service provider (ISP) is contemplating an investment of $50,000 in new computer servers and related hardware. The ISP projects an annual rate of return on this investment of 6 percent. a. The curre ...

Question thai savings bank issues 100000 bonds as a

Question: Thai Savings Bank issues 100,000 bonds as a response to the Thai Central Bank's initiatives to increase domestic saving. The bonds have a face value of $48, 917 each, a bond interest rate of 8% per year payable ...

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 Microeconomics Expert