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Author Question: A firm in a perfectly competitive market has no control over price because (Read 58 times)

genevieve1028

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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
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Marked as best answer by genevieve1028 on May 25, 2020

zogaridan

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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.
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genevieve1028

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Reply 2 on: May 25, 2020
Great answer, keep it coming :)

ryhom

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Reply 3 on: Yesterday
Wow, this really help

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