0
Add your answer:
Earn +20 pts
Can a perfectly competitive firm set a price for its products that is above marginal cost?
A perfectly competitive firm would set its prices at a perfectly competitive price.
If the toaster was bought for 105 on sale for 25 percent off what was the original price?
The original price was $140.00
What is the approximate cost of an Oster toaster oven?
The price of Oster toaster ovens ranges depending on the size and style of toaster oven that you are looking to acquire. Some Oster toaster ovens can be purchased for as little as 20 but most are priced above 40.
Competitive firms are assumed to do what?
Be price takers.
What has the author William Hobbs written?
William Hobbs has written: 'Investing with the experts' -- subject(s): Stocks 'Flags of profit' -- subject(s): Investments, Stock price forecasting, Stocks
What is the theory of competitive pricing?
setting a price by reference to other prices of comparable competitive products.
What is equilibrium price in economics?
It is the price where demand equals supply in a competitive market.
What is a series of competitive price cuts that lowers the market price below the cost of production?
A price war.
What is the total price of a 29.38 toaster plus tax of 6.25 percent?
The total tax is $1.84 and the total price with tax is $31.22.
Is a purely competitive firm a price taker?
Indeed it is. A competitive market means that there are a lot of companies that sell the same product. With this conditions, if a company rise the price, consumers will easily find another company, losing all profits. Therefore a firm cannot control the price in a competitive market, it has to take the market price.
How price are determined in a competitive market?
based on economy
What is a series of competitive price cuts that lower the market price below the cost of production called?
A price war.
