You are the owner of a farm. Your farm's main production is Milk. There are many farms like you in
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
Q1-What is the competition type in your industry? Why? The firm (farm owner) is operating under conditions of perfect... View the full answer