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Why do firms exist? Who benefits from their existence?

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Anne Gillian Duero
Anne Gillian DueroLv10
28 Sep 2019
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Related questions

who gets benefits from firms existence

Ā 

Economists argue that the efforts of perfectly competitive firms ultimately result in large benefits accruing to consumers. How is this the case? What about owners of perfectly competitive firms. Do they get any benefits from their efforts in the long run? Why or why not? USE YOUR OWN WORDS

32) Suppose all of the firms in a perfectly competitive industry form a cartel and agree to restrict output, thereby raising the price of the product. Individual Firm A will gain the most from the existence of the cartel if A) all firms, including A, cooperate and restrict output. B) Firm A restricts output, while the other firms do not. C) all firms, except Firm A, cooperate and restrict output. D) no firms restrict output. E) all firms revert back to their competitive outputs.

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