« previous next »

Author Question: A monopolistically competitive industry is like a perfectly competitive industry in the sense that: ... (Read 279 times)

D2AR0N

  • Hero Member
  • *****
  • Posts: 561
on: Jun 30, 2018
A monopolistically competitive industry is like a perfectly competitive industry in the sense that:
 a. non-price competition is significant in both industries.
 b. there are no substantial barriers to entry in both cases.
 c. economic profits in long run equilibrium are zero in both cases.
  d. both (b) and (c) are true.

Question 2

An externality can occur when:
 a. a voluntary transaction between two individuals creates economic value.
  b. a person's action affects another's wealth either positively or negatively.
  c. a self-interested individual tries to maximize his/her profits.
  d. a voluntary transaction between two individuals creates economic loss.


poopface

  • Sr. Member
  • ****
  • Posts: 339
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Eye ball perfectly labelled (map) Eye ball perfectly labelled (map)
Natural Resources and Industry Natural Resources and Industry
Lineweaver–Burk plots of the reactions with and without a competitive inhibitor Lineweaver–Burk plots of the reactions with and without a competitive inhibitor
Monkey Experiment: Sense of Fairness Monkey Experiment: Sense of Fairness
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
Selected Narrow Sense Heritability (h2) Values for Animals and Plants Selected Narrow Sense Heritability (h2) Values for Animals and Plants
Video: Protein catabolism (Krebs cycle) and Protein anabolism (protein synthesis)

For a complete list of videos, visit our video library