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 67 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
Gracias!

nguyenhoanhat

  • Member
  • Posts: 332
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Mosaic of Charge-Coupled Devices Mosaic of Charge-Coupled Devices
Measuring Electrical Charge Measuring Electrical Charge
Which of the following statements is true of linkage? Which of the following statements is true of linkage?
Effects of competitive inhibition on enzyme kinetics Effects of competitive inhibition on enzyme kinetics
Management Information Systems: Managing the Digital Firm, 15th Edition Management Information Systems: Managing the Digital Firm, 15th Edition
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
Video: Ionic bonds - role of ions in the body

For a complete list of videos, visit our video library