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Author Question: According to your authors, the following is a necessary condition for a competitive market: A) ... (Read 86 times)

jazziefee

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on: Jun 29, 2018
According to your authors, the following is a necessary condition for a competitive market:
 
  A) Large numbers of buyers and sellers
  B) Full and complete information
  C) Freedom of entry
  D) Identical products
  E) All of the above.

Question 2

Positive economic profits in a perfectly competitive market imply that:
 
  A) producers are earning more than their opportunity cost.
  B) existing firms are likely to leave the market.
  C) the cost of production is equalized across producers.
  D) government intervention is required to stabilize the market.


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bobsmith

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

C

Answer to Question 2

A


jazziefee

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Reply 2 on: Jun 29, 2018
Wow, this really help

amynguyen1221

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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