« previous next »

Author Question: The demand curve faced by a perfectly competitive firm is: a. downward sloping. b. the same as the ... (Read 15 times)

asmith134

  • Hero Member
  • *****
  • Posts: 576
on: Jun 30, 2018
The demand curve faced by a perfectly competitive firm is:
 a. downward sloping.
  b. the same as the market demand curve.
  c. horizontal.
  d. perfectly inelastic.

Question 2

When Glaxo-Wellcome introduced AZT, an AIDS drug, it was able to enjoy high profits because:
 a. the drug was highly recommended by doctors.
  b. of the quick response of rivals in introducing substitute drugs.
  c. of barriers to entry provided by patents.
  d. of its competitive price in the pharmaceutical industry.
  e. it experienced constant returns to scale in the long run.


Natalie4ever

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

competitive inhibition competitive inhibition
Shame-faced crab Shame-faced crab
Ebbinghaus’s forgetting curve Ebbinghaus’s forgetting curve
One-handed kneading. Tissues are lifted with the whole hand in firm contact. One-handed kneading. Tissues are lifted with the whole hand in firm contact.
The growth in demand for oil in China is driven by the growth in demand for personal transport The growth in demand for oil in China is driven by the growth in demand for personal transport
Normal frequency distribution, characterized by a bell-shaped curve Normal frequency distribution, characterized by a bell-shaped curve
Video: Stomach peristalsis & Enterogastric reflex

For a complete list of videos, visit our video library