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Author Question: Which of the following is unique to perfect competition? a. The individual firm cannot earn ... (Read 27 times)

cabate

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on: Jun 30, 2018
Which of the following is unique to perfect competition?
 a. The individual firm cannot earn economic profit in the long run.
  b. It is easy for new firms to enter the industry.
  c. The market demand curve slopes downward.
  d. The demand curve facing an individual firm is perfectly elastic.
  e. The firms in the industry produce a homogeneous product.

Question 2

Legislators often have difficulty passing legislation with widespread benefits, but that imposes concentrated costs because those who bear the costs will __________ the legislation, while those who would reap the benefits will __________ the legislation.
 a. protest; actively support
  b. not protest; not actively support
  c. not protest; actively support
  d. protest; not actively support
  e. protest; protest


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duke02

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

D

Answer to Question 2

D


cabate

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

amandalm

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

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