What Happens to the Price of the Product and Total

question 5

Essay

What happens to the price of the product and total revenue for a perfectly competitive firm if it doubles the amount of output it supplies in the market?

---

Definitions:

Television

An electronic system of transmitting transient images of fixed or moving objects together with sound over a wire or through space by apparatus that converts light and sound into electrical waves and reconverts them into visible light rays and audible sound.

Men

Adult human males.

Changing

The process of becoming different in some particular way, without permanently losing one's or its essential characteristics or essence.

Mainstream Media

Media outlets, such as newspapers, television, and radio stations, that reach a large audience and are considered to be a primary source of news and information.