Florida girl's death brings to light tonsillectomy risks. September 23, 2010|By Lorri Helfand and Letitia Stein, St. Petersburg Times. The recent death of a seemingly healthy, 12-year-old Pinellas County girl following a tonsillectomy may have many parents worried about one of the most common surgical procedures performed in children.
In a perfectly competitive market price is equal to marginal revenue. Price will also equal average cost. If price was greater than average cost the firms in the market would be making profit. This would lead to more firms entering (remember no barriers to entry) until profits are eliminated.
In contrast to a monopoly or oligopoly, in perfect competition it is impossible for a firm to earn economic profit in the long run, which is to say that a firm cannot make any more money than is necessary to cover its economic costs.n the long run, perfectly competitive markets are both allocatively and productively efficient. In perfect competition, any profit-maximizing producer faces a market price equal to its marginal cost (P = MC). This implies that a factor's price equals the factor's marginal revenue product.