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Purely competitive firms increase total revenue by
Question|Asked by susanmgunter
Asked 9/15/2014 5:49:42 AM
Updated 9/15/2014 11:17:33 AM
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User: Purely competitive firms increase total revenue by

Weegy: (To increase revenue, firms look to increase price or quantity, as price multiplied by quantity equals total revenue. Purely competitive firms can sell as much as they want at the market price. [ Adding additional units of the product does not result in a change in the market price. Therefore, since purely competitive firms do not influence price, they increase total revenue by increasing quantity). ]
selymi|Points 16662|

Question|Asked by susanmgunter
Asked 9/15/2014 5:49:42 AM
Updated 9/15/2014 11:17:33 AM
1 Answer/Comment
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Purely competitive firms increase total revenue by: increasing production.

Added 9/15/2014 11:17:33 AM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [9/15/2014 11:34:29 AM]
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When you are considering the value of a resource in its next best use, you are considering its
Question|Asked by susanmgunter
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Updated 2/1/2016 2:32:45 PM
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When you are considering the value of a resource in its next best use, you are considering its opportunity cost.
Added 2/1/2016 2:32:45 PM
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Confirmed by yumdrea [2/1/2016 9:28:47 PM]
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