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Q: If P equals 8 and MC equals 5 plus 0.2Q the competitive firm's profit-maximizing level of output is?
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Related questions

What competitive environmental forces influence the firms strategy?

The competitive environmental forces influence the firms customers, rival firms, new entrants, substitutes, and supplies.


Explain why the P equals MC rule is the same as the MR equals MC rule for perfectly competitive firms?

Perfectly competitive firms are price takers. This means that they can sell as much or as little as they want, but only at the going market price. When this happens, the market price is the same as their marginal revenue. Thus, P=MC is the same as P=MR.


Do perfectly competitive firms advertise?

Perfectly competitive firms would not advertise as advertising would serve no purpose. A market that is perfectly competitive exists only in theory.


Why Japanese Firms tend to be so competitive?

Japanese firms are competitive because they want to make a profit. They typically do this by expanding outside of Japan.


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Be price takers.


What is markets in which firms sell their output of goods and services?

The product market is the market in which firms sell their output of goods and services.


Characteristic do all three types of imperfectly competitive firms share?

What important charactertistic do all three types of imperfectly competitive firms share?


Does monopolistically competitive firms have horizontal marginal cost curve?

No it does not. Only Perfectly Competitive firms have a horizontal Marginal Cost curve, which is also there demand curve.


Monopolistically competitive firms are typically characterized by?

many firms selling products that are similar, but not identical.


Monopolistically competitive firms may not be able to produce goods at the lowest possible average cost. This statement is describing how monopolistically competitive firms might be?

without economies of scale


Can Socially Responsible firms survive in a Competitive environment?

Yes.