This topic contains a solution. Click here to go to the answer

Author Question: Which of the following assumptions about perfectly competitive markets is primarily responsible for ... (Read 58 times)

llesku

  • Full Member
  • ***
  • Posts: 175

Question 1

Which of the following terms would best describe the price elasticity of demand facing a perfectly competitive firm?
◦ inelastic
◦ perfectly inelastic
◦ elastic
◦ perfectly elastic
◦ unit

Question 2

Which of the following assumptions about perfectly competitive markets is primarily responsible for firms having zero economic profit in long run equilibrium?
◦ strategic behaviour
◦ homogeneous product
◦ consumers are aware of all firms' prices
◦ each firm is small relative to the size of the industry
◦ freedom of entry and exit in the industry


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by llesku on Oct 12, 2022

viper01

  • Full Member
  • ***
  • Posts: 160
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 39% of students answer this correctly




llesku

  • Member
  • Posts: 175
Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it


yeungji

  • Member
  • Posts: 319
Reply 3 on: Yesterday
Gracias!

 

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

For a complete list of videos, visit our video library