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Author Question: The perfectly competitive model assumes that: a. individual sellers can influence the market price. ... (Read 43 times)

Hungry!

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on: Jun 30, 2018
The perfectly competitive model assumes that:
 a. individual sellers can influence the market price.
 b. sellers can increase their total revenue by raising prices.
 c. firms can enter and exit the industry with relative ease.
 d. firms compete by varying a product's quality rather than a product's price.

Question 2

Unlike nonrenewable resources, the timing of extraction of renewable resources are independent of the market rate of interest.
 a. True
  b. False
  Indicate whether the statement is true or false


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kaylee05

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

False


Hungry!

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  • Posts: 1,071
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

ashely1112

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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