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Perfect competition is an economic term that refers to a theoretical market structure in which all suppliers are equal a
Posted: Wed Jul 06, 2022 6:29 pm
by answerhappygod
- Perfect Competition Is An Economic Term That Refers To A Theoretical Market Structure In Which All Suppliers Are Equal A 1 (219.61 KiB) Viewed 21 times
Perfect competition is an economic term that refers to a theoretical market structure in which all suppliers are equal and overall supply and demand are in equilibrium. Figure 23. 1 shows the price, marginal cost and average cost curves facing a perfectly competitive firm in the short run. Figure 23.1 Cost, pace (Rand B.R800 C.R960 60 80 100 D.R720 Output per day MC What is the total revenue of the profit-maximising firm in the short run? A. R2 000 AC Price AVC FreeL BA F