This topic contains a solution. Click here to go to the answer

Author Question: Hubert's Copy Services is in perfect competition. Hubert currently charges 10 cents per page, which ... (Read 99 times)

Tazate

  • Hero Member
  • *****
  • Posts: 532
Hubert's Copy Services is in perfect competition. Hubert currently charges 10 cents per page, which is the going market price. He thinks that he can increase his profit by raising the price. Is it possible? Why or why not?
 
  What will be an ideal response?

Question 2

The U.S. government provides monthly payments to retired workers under which program?
 
  A) the Old Age, Survivors, Disability and Health Insurance (OASDHI)
  B) the Temporary Assistance for Needy Households (TANF)
  C) the Supplementary Security Income (SSI)
  D) a series of income tax rebates



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Shshxj

  • Sr. Member
  • ****
  • Posts: 335
Answer to Question 1

If Hubert raises his price, his profit will not increase. As a perfectly competitive firm, Hubert's is a price taker. It produces a tiny proportion of the copy services in the area, and buyers are well informed about the prices charged by other firms. So, if the market price is 10 cents per page and Hubert asks, say, 12 cents per page, his customers will go to the next copy service and Hubert will lose all his sales.

Answer to Question 2

A




Tazate

  • Member
  • Posts: 532
Reply 2 on: Jun 29, 2018
Excellent


ASDFGJLO

  • Member
  • Posts: 335
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

For a complete list of videos, visit our video library