This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What are the requirements for perfect competition? What will be an ideal ... (Read 41 times)

rosent76

  • Hero Member
  • *****
  • Posts: 516
on: Jun 29, 2018
What are the requirements for perfect competition?
 
  What will be an ideal response?

Question 2

Consider the country of Outland. In Outland, people pay 10 percent of their income as a tax whether they earn 10,000 or 100,000 annually. Outland has ________ tax structure.
 
  A) a progressive
  B) a regressive
  C) a proportional
  D) an excessive


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

anyusername12131

  • Sr. Member
  • ****
  • Posts: 327
Reply #1 on: Jun 29, 2018
Answer to Question 1

The requirements are: many firms selling an identical product; many buyers; no restrictions on entry into the market; established firms have no advantages over new entrants; and sellers and buyers have good information about prices of each firm's product.

Answer to Question 2

C


rosent76

  • Hero Member
  • *****
  • Posts: 516
Reply #2 on: Jun 29, 2018
Correct answers!


anyusername12131

  • Sr. Member
  • ****
  • Posts: 327
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

The frequency of competition according to the number of species involved. The frequency of competition according to the number of species involved.
Sexual swellings are one way for females to advertise their mating availability, thereby inducing ma Sexual swellings are one way for females to advertise their mating availability, thereby inducing ma
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
Filippo Brunelleschi, Sacrifice of Isaac, competition relief commissioned for the doors of the ... Filippo Brunelleschi, Sacrifice of Isaac, competition relief commissioned for the doors of the ...
Perfect Circles Perfect Circles
Interference Competition Interference Competition
Video: Protein digestion - stomach & small intestine

For a complete list of videos, visit our video library