« previous next »

Author Question: Which of the following is a necessary feature of the notion of the market as a competitive process ... (Read 53 times)

WhattoUnderstand

  • Hero Member
  • *****
  • Posts: 517
on: Jun 29, 2018
Which of the following is a necessary feature of the notion of the market as a competitive process and the model of perfect competition?
 
  A) Freedom of entry
  B) Price taking behavior
  C) Perfect and complete information
  D) All firms produce identical products.
  E) All of the above.

Question 2

Refer to the figure above. What is the price that the monopolistic firm would charge?
 
  A) 0
  B) 3
  C) 6
  D) 9


trog

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Critial thinking and the nursing diagnostic process Critial thinking and the nursing diagnostic process
Recovery process of ancient DNA. Recovery process of ancient DNA.
Start the fuel injector cleaning process by bringing the vehicle’s engine up to operating ... Start the fuel injector cleaning process by bringing the vehicle’s engine up to operating ...
Incineration Process Incineration Process
Palpating the mastoid process Palpating the mastoid process
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
Video: Natural Selection, Species Isolation and Real World Example

For a complete list of videos, visit our video library