assume bell computer company operates in a perfectly competitive market producing 5,000 computers per day. at this output level, price exceeds this firm's marginal cost. it follows that producing one more computer will cause this firm's a. total cost to decrease. b. profits to increase. c. profits to decrease. d. profits to remain unchanged.

A hypothetical market system is referred to as perfect competition. Perfect competition offers a valuable model for illustrating how supply and demand influence pricing and behaviour in a market economy, despite perfect competition seldom occurring in actual markets.

One of the most efficiently operating markets is one with perfect competition, when a large number of buyers and suppliers cooperate perfectly. Sadly, it is a hypothetical event that does not occur in the real world. But in order to guarantee a fair price for all goods and services, markets should strive to be as similar to this type of market as feasible.

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