« previous next »

Author Question: Which of the following is a necessary feature of the notion of the market as a competitive process ... (Read 74 times)

WhattoUnderstand

  • Hero Member
  • *****
  • Posts: 517
on: Jun 29, 2018
Which of the following is a necessary feature of the notion of the market as a competitive process and the model of perfect competition?
 
  A) Freedom of entry
  B) Price taking behavior
  C) Perfect and complete information
  D) All firms produce identical products.
  E) All of the above.

Question 2

Refer to the figure above. What is the price that the monopolistic firm would charge?
 
  A) 0
  B) 3
  C) 6
  D) 9


trog

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

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.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

The Clotting Process The Clotting Process
This graphic illustrates the original systems model of politics advanced by David Easton. Politics This graphic illustrates the original systems model of politics advanced by David Easton. Politics
Deviancy training is a process by which antisocial peers encourage antisocial talk among friends, ... Deviancy training is a process by which antisocial peers encourage antisocial talk among friends, ...
The Bergeron Process The Bergeron Process
The branching process in glycogen synthesis The branching process in glycogen synthesis
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: Chemical Equilibrium between N2O4 (colorless gas) and NO2 (brown gas)

For a complete list of videos, visit our video library