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

Author Question: What are the requirements for perfect competition? What will be an ideal ... (Read 70 times)

rosent76

  • Hero Member
  • *****
  • Posts: 516
on: Jun 29, 2018
What are the requirements for perfect competition?
 
  What will be an ideal response?

Question 2

Consider the country of Outland. In Outland, people pay 10 percent of their income as a tax whether they earn 10,000 or 100,000 annually. Outland has ________ tax structure.
 
  A) a progressive
  B) a regressive
  C) a proportional
  D) an excessive


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

anyusername12131

  • Sr. Member
  • ****
  • Posts: 327
Reply #1 on: Jun 29, 2018
Answer to Question 1

The requirements are: many firms selling an identical product; many buyers; no restrictions on entry into the market; established firms have no advantages over new entrants; and sellers and buyers have good information about prices of each firm's product.

Answer to Question 2

C


rosent76

  • Hero Member
  • *****
  • Posts: 516
Reply #2 on: Jun 29, 2018
Correct answers!


anyusername12131

  • Sr. Member
  • ****
  • Posts: 327
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

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?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

The different types of competition in nature. The different types of competition in nature.
Filippo Brunelleschi, Sacrifice of Isaac, competition relief commissioned for the doors of the ... Filippo Brunelleschi, Sacrifice of Isaac, competition relief commissioned for the doors of the ...
Congruence among values, beliefs, and role requirements supports the development of empowered ... Congruence among values, beliefs, and role requirements supports the development of empowered ...
The Body’s Nutritional Requirements The Body’s Nutritional Requirements
Perfect Circles Perfect Circles
Video: Transferring genes into plants Animation

For a complete list of videos, visit our video library