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Author Question: If pure competition doesn't exist in the real world what is the implication for the shape of the ... (Read 163 times)

Alainaaa8

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on: Jun 29, 2018
If pure competition doesn't exist in the real world what is the implication for the shape of the demand curve that real-world firms would face?
 
  What will be an ideal response?

Question 2

Which of the following classifications is correct?
 
  A. City streets are consumption goods because they wear out with use.
  B. Stocks are capital goods because when people buy and sell them they make a profit.
  C. The coffee maker in the coffee shop at an airport is a consumption good because people buy the coffee it produces.
  D. White House security is a government service because it is paid for by the government..


rnehls

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Reply #1 on: Jun 29, 2018
Answer to Question 1

If pure competition doesn't exist then real-world firms would actually face a downward-sloping demand for their product.

Answer to Question 2

D Answer D is correct.


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