You are the owner of a farm. Your farm's main production is Milk. There are many farms like you in Canada. Q1-What is the competition type in your
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You are the owner of a farm. Your farm's main production is Milk. There are many farms like you in

Canada.

Q1-What is the competition type in your industry? Why?

Q2-How do you decide about the price? Graph and Explain.

Q3-Show on a graph and explain how the profit maximization point is decided?

Q4-If the government limits the maximum price of milk in the market, how would this price ceiling affect the economy? Graph and Explanation.


Question about Microeconomics

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Q1-What is the competition type in your industry? Why? The firm (farm owner) is operating under conditions of perfect... View the full answer

CH PC demand curve.png

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