This topic contains a solution. Click here to go to the answer

Author Question: A perfectly competitive firm faces a perfectly elastic demand curve. a. True b. False Indicate ... (Read 257 times)

ssal

  • Hero Member
  • *****
  • Posts: 572
A perfectly competitive firm faces a perfectly elastic demand curve.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Which of the following actions can be categorized as rent seeking?
 a. Increase in the income tax rates by the government
  b. Lobbying efforts of individuals or groups to gain favors from the government
  c. Profit maximizing firms charging a price greater than their marginal costs
  d. Export of goods from developing to developed countries
  e. Government intervention in the real estate market



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

patma1981

  • Sr. Member
  • ****
  • Posts: 292
Answer to Question 1

True

Answer to Question 2

b




ssal

  • Member
  • Posts: 572
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review


strudel15

  • Member
  • Posts: 324
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

For a complete list of videos, visit our video library