Question

W ho would be the valedictorian? W hat would he / she be asked to do on the day of the
graduation? W hat was the motive behind changing the policy that year? W hat do you think of
Marta as a student?
(the question is from the lesson scholarship jacket pls only those people answer who read it)

Answer 1

Answer:

In a perfectly competitive market, price equals marginal cost and firms earn an economic profit of zero. In a monopoly, the price is set above marginal cost and the firm earns a positive economic profit. Perfect competition produces an equilibrium in which the price and quantity of a good is economically efficient