the market for fertilizer is perfectly competitive. firms in the market are producing output but are currently incurring economic losses. a. how does the price of fertilizer compare to the average total cost, the average variable cost, and the marginal cost of producing fertili

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21-12-2022
Business

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the market for fertilizer is perfectly competitive. firms in the market are producing output but are currently incurring economic losses. a. how does the price of fertilizer compare to the average total cost, the average variable cost, and the marginal cost of producing fertili

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Tom056 Tom056 · Answer 1 · 2022-12-26T06:01:33-05:00

A perfectly competitive (PC) firm that sells fertiliser may experience financial loss in the short term. In this case, the cost of fertiliser would be more high than the average variable cost (AVC). Nevertheless, it will still be less than the average total cost (AC) and marginal cost (MC).

A market or industry condition where a large number of businesses compete with similarly defined products is referred to as perfect competition.

The enterprises in this sort of market institution can only sell a small portion of the industry output since the number of consumers is so great. Both entering and leaving is free and simple. Perfect competition, though, is uncommon in real-world competition.

To learn more about perfect competition refer here

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