This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Philippa grows lettuces commercially. This is a perfectly competitive business and Philippa faces a ... (Read 102 times)

fahad

  • Hero Member
  • *****
  • Posts: 570
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by fahad on May 25, 2020

kardosa007

  • Sr. Member
  • ****
  • Posts: 300
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.
Answer Preview
Only 58% of students answer this correctly


fahad

  • Member
  • Posts: 570
Reply 2 on: May 25, 2020
Great answer, keep it coming :)

jojobee318

  • Member
  • Posts: 298
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Non-competitive inhibition Non-competitive inhibition
Project Management: Achieving Competitive Advantage, 5th Edition Project Management: Achieving Competitive Advantage, 5th Edition
business solution business solution
When operating your own business, it is wise to know your cost of capital and that of the ... When operating your own business, it is wise to know your cost of capital and that of the ...
Business Math Business Math
Business Mathematics, 15th Edition Business Mathematics, 15th Edition
Video: Introduction to Pre-eclampsia

For a complete list of videos, visit our video library