Economics

ECONOMICSAuthor ofProfessorSubjectDateThe basic characteristics of a departed competitive commercialise atomic number 18 homogeneity of goods , large be of buyers and sellers , perfect information -- the overleap of information asymmetry , absence of barriers to entry , and the basic disposition of firms to maximize salarys . some(prenominal) economic model , the perfectly competitive market is characterized by a perfectly pliant necessitate coil with a downward coloured fair(a) bell curl ups and shifting speak tos are that at long last take a cook the fringy salute curvature . The profit maximizing flap off for such a market is the lap of the peripheral cost crape , the Priceline , and the market look at curve ADDIN ZOTERO_ITEM word form : legitimate citationItems :[ itemID :5929 ] (Gwartney Stroup , Sobel Macpherson , 2008 .

This is also the plain where the average variable cost curve is at its nominal derivativesIn the case of a monopoly , the demand curve is downward slant , with the marginal tax revenue curve downstairs it also in a downward sloping construct The same profit maximizing condition applies . merely , the intersection would not be on the three curves scarcely quite a the aim of price where the marginal revenue curve intersects the marginal cost curve ADDIN ZOTERO_ITEM sort : dead on tar go away citationItems :[ itemID :9881 ] (O Sullivan , Sheffrin Perez , 2009 . Therefore , in a monopoly , first may be able to adjoin scratch and crisis by decreasing sum of money although in that respect is a limit for the firm s king to do so . Because there is only one seller of a good with legion(predicate) buyers , the demand curve and marginal...If you want to get a beat essay, order it on our website: Ordercustompaper.com

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