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

Author Question: According to your authors, the following is a necessary condition for a competitive market: A) ... (Read 38 times)

jazziefee

  • Hero Member
  • *****
  • Posts: 505
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.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bobsmith

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A


jazziefee

  • Member
  • Posts: 505
Reply 2 on: Jun 29, 2018
:D TYSM

CAPTAINAMERICA

  • Member
  • Posts: 325
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Norway lobsters on sale at a Spanish market Norway lobsters on sale at a Spanish market
Erythroblastosis fetalis. (a) The condition occurs with an RH+ father and RH– mother. (b) First preg Erythroblastosis fetalis. (a) The condition occurs with an RH+ father and RH– mother. (b) First preg
Intussusception. The condition is caused by an infolding of the small intestine, which often causes Intussusception. The condition is caused by an infolding of the small intestine, which often causes
Endocarditis. The human heart has been sectioned to reveal the left ventricle and origin of the aort Endocarditis. The human heart has been sectioned to reveal the left ventricle and origin of the aort
All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co
Dermatitis herpetiformis is a blistering skin condition associated with celiac disease. Dermatitis herpetiformis is a blistering skin condition associated with celiac disease.
Video: Sperm Formation

For a complete list of videos, visit our video library