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Author Question: When natural or legal forces work to protect a firm from potential competitors, the market is said ... (Read 115 times)

waynest

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on: Jun 29, 2018
When natural or legal forces work to protect a firm from potential competitors, the market is said to have ________.
 
  A) non-competitive supply
  B) non-competitive entry
  C) barriers to entry
  D) restricted competition

Question 2

A perfectly competitive firm maximizes its profit by
 
  A) setting its price so that it exceeds the marginal revenue.
  B) choosing to produce the quantity that sets MC equal to MR.
  C) cutting wages.
  D) manipulating demand.


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emily12345

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

C

Answer to Question 2

B


waynest

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Reply #2 on: Jun 29, 2018
Thank you


emily12345

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Reply #3 on: Jun 29, 2018
No problemo


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