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

Author Question: Which of the following is TRUE regarding a perfectly competitive firm? A) The firm can charge a ... (Read 44 times)

jeatrice

  • Hero Member
  • *****
  • Posts: 543
on: Jun 29, 2018
Which of the following is TRUE regarding a perfectly competitive firm?
 
  A) The firm can charge a lower price than its competitors and thereby sell more output and increase its profits.
  B) The firm always earns a normal profit.
  C) The firm's marginal revenue continually decreases.
  D) The firm's minimum efficient scale is small relative to the market demand.

Question 2

New growth theory assumes that
 
  A) all inputs experience diminishing returns.
  B) only random technological advances produce growth.
  C) knowledge does not experience diminishing returns.
  D) None of the above answers is correct.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

vkodali

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


jeatrice

  • Member
  • Posts: 543
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

meow1234

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

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

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

competitive inhibition competitive inhibition
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
Competitive drug enzyme immunoassay. Competitive drug enzyme immunoassay.
Project Management: Achieving Competitive Advantage Project Management: Achieving Competitive Advantage
Anterosuperior view of true pelvis (blue) Anterosuperior view of true pelvis (blue)
Storm water charge Storm water charge
Video: Acid-base imbalances - compensation of respiratory acidosis and alkalosis

For a complete list of videos, visit our video library