« previous next »

Author Question: Each point on the production possibilities frontier achieves allocative efficiency. Indicate ... (Read 81 times)

james0929

  • Hero Member
  • *****
  • Posts: 586
on: Jun 29, 2018
Each point on the production possibilities frontier achieves allocative efficiency.
 
  Indicate whether the statement is true or false

Question 2

In the long run, perfectly competitive firms make zero economic profit. This result is due mainly to the point that a perfectly competitive market has
 
  A) few buyers and sellers.
  B) no barriers to entry and exit.
  C) price taking by the firms.
  D) firms with perfectly elastic market demand.


kjohnson

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Jun 29, 2018
Answer to Question 1

FALSE

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

A Need for Improved Water-Use Efficiency in Plants A Need for Improved Water-Use Efficiency in Plants
McBurney’s point is the common location of pain in children and adolescents with appendicitis. McBurney’s point is the common location of pain in children and adolescents with appendicitis.
Pair Production and Annihilation Pair Production and Annihilation
Torque is a twisting force equal to the distance from the pivot point times the force applied ... Torque is a twisting force equal to the distance from the pivot point times the force applied ...
World Crude Oil Production, 1900–2010 World Crude Oil Production, 1900–2010
Three point charges lie on the x x axis. Charge 1 (+9.9 μC μ C ) is at the origin, ... Three point charges lie on the x x axis. Charge 1 (+9.9 μC μ C ) is at the origin, ...
Video: Normal and abnormal blood pH

For a complete list of videos, visit our video library