« previous next »

Author Question: A good economic model A) describes every aspect of the economic world, with no exception. B) ... (Read 161 times)

2125004343

  • Hero Member
  • *****
  • Posts: 566
on: Jun 29, 2018
A good economic model
 
  A) describes every aspect of the economic world, with no exception.
  B) includes all those features of the world that can be described numerically.
  C) includes only those features of the world that are needed for the purpose at hand.
  D) should not include more than two variables.

Question 2

Price taking behavior exists in
 
  A) perfectly competitive markets.
  B) markets with a monopolist, where consumers have to take price as it is given to them by the monopolist.
  C) automobile markets where consumers have to take the price set by the dealer.
  D) Both answers B and C are correct.


Ddddd

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Smallest chameleon in the World Smallest chameleon in the World
World Ecosystem World Ecosystem
Modern Human Fossil Sites in the Old World Modern Human Fossil Sites in the Old World
A model for the RuvA-RuvB-Holliday junction structure A model for the RuvA-RuvB-Holliday junction structure
Breakdown of the Malthusian Model in Western Europe Breakdown of the Malthusian Model in Western Europe
Molecular model of homologous recombination in meiosis Molecular model of homologous recombination in meiosis
Video: How to make cDNA Animation

For a complete list of videos, visit our video library