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In pure competition, price is determined where the industry: (Points : 1) Ded and supply curves intersect Total cost is greater than total revenue Demand intersects the firm's marginal cost curve Average total cost equals total variable costs
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In pure competition, price is determined where the industry demand and supply curves intersect.
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Asked 3/2/2014 1:19:48 AM
Updated 12/29/2015 1:12:34 PM
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In pure competition, price is determined where the industry demand and supply curves intersect.
Added 12/29/2015 1:12:34 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [12/29/2015 1:33:32 PM]
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Questions asked by the same visitor
The characteristic most closely associated with oligopoly is: (Points : 1) easy entry into the industry a few large producers product standardization
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Not Answered
Updated 3/2/2014 2:19:07 AM
1 Answer/Comment
The characteristic most closely associated with oligopoly is: a few large producers.
Added 3/2/2014 2:19:07 AM
This answer has been confirmed as correct and helpful.
The law of demand states that an increase in the price of a good (Points : 4) A. increases the quantity supplied of that good. B. increases the supply of that good. C. decreases the quantity demanded for that good. D. does none of these answers. E. decreases the demand for that good.
Weegy: B. increases the supply of that good. (More)
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Expert Answered
Updated 3/2/2014 7:23:15 AM
1 Answer/Comment
The law of demand states that an increase in the price of a good DECREASES THE QUANTITY DEMANDED FOR THAT GOOD.
Added 3/2/2014 7:23:14 AM
This answer has been confirmed as correct and helpful.
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