Define the Purpose of Value-Added Content

question 7

Essay

Define the purpose of value-added content. What criteria can you use to determine whether or not to add a content element? List examples of types of value-added content you can add to a website.

Recognize the allocation efficiency in pure competition where production occurs at the output level where P = MC.

Comprehend the differences between short-run and long-run supply curves in purely competitive industries.

Describe the effect of new firms entering or existing firms leaving a purely competitive market on market supply and equilibrium.

Define productive efficiency and its relation to marginal cost and marginal revenue.