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Author Question: Philippa grows lettuces commercially. This is a perfectly competitive business and Philippa faces a ... (Read 90 times)

fahad

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on: May 25, 2020

Question 1

The following diagram shows a profit-maximising firm under perfect competition.



What is the maximum profit it can make in the short run?
◦ £0
◦ £8000
◦ £2800
◦ £13

Question 2

Philippa grows lettuces commercially. This is a perfectly competitive business and Philippa faces a perfectly elastic demand curve. If she wants to try to increase revenues she should
◦ do nothing; there is nothing she can do to increase revenues.
◦ raise the price of her lettuces to make more per sale.
◦ lower the price of her lettuce to try to sell more.
◦ keep the price the same but produce more to increase sales.
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
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Marked as best answer by fahad on May 25, 2020

kardosa007

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Reply #1 on: May 25, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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fahad

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Reply 2 on: May 25, 2020
Great answer, keep it coming :)

Animal_Goddess

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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