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

Author Question: A firm in a perfectly competitive market has no control over price because (Read 67 times)

genevieve1028

  • Hero Member
  • *****
  • Posts: 601
on: May 25, 2020

Question 1

If a firm's demand curve is perfectly elastic, the slope of its marginal revenue curve will be
◦ half as steep as the AR curve.
◦ always equal to one.
◦ zero.
◦ always equal to minus one.

Question 2

A firm in a perfectly competitive market has no control over price because
◦ every firm's product is a perfect substitute for every other firm's product, and there is a very large number of firms in the industry.
◦ the government imposes price ceilings on the products produced in perfectly competitive industries.
◦ there is free entry and exit from the industry.
◦ the market demand for products produced in perfectly competitive industries is perfectly elastic.
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by genevieve1028 on May 25, 2020

zogaridan

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: May 25, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 25% of students answer this correctly


genevieve1028

  • Member
  • Posts: 601
Reply 2 on: May 25, 2020
Excellent

marict

  • Member
  • Posts: 304
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Formation of additional eyes in Drosophila caused by the abnormal expression of a master control gen Formation of additional eyes in Drosophila caused by the abnormal expression of a master control gen
Relatively simple changes in Hox genes control limb formation in tetrapods. Relatively simple changes in Hox genes control limb formation in tetrapods.
Control of Circadian Rhythms in Sleep and Waking by the SCN During the day cycle, the DMH inhibits t Control of Circadian Rhythms in Sleep and Waking by the SCN During the day cycle, the DMH inhibits t
All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co
The Power and Control Wheels of Abusive Relationships When one person in a relationship repeatedly ... The Power and Control Wheels of Abusive Relationships When one person in a relationship repeatedly ...
Example of gene control in bacteria Example of gene control in bacteria
Video: Types of energy transfer reactions: oxidation-reduction reactions and ATP generation reactions

For a complete list of videos, visit our video library