« previous next »

Author Question: Which of the following is not a characteristic of perfect competition? a. A commodity product b. A ... (Read 25 times)

leo leo

  • Hero Member
  • *****
  • Posts: 566
on: Jun 30, 2018
Which of the following is not a characteristic of perfect competition?
 a. A commodity product
  b. A large number of independently acting sellers
  c. Freedom of entry
  d. The existence of externalities
  e. Each firm is a price taker

Question 2

Which of the following is true at the profit-maximizing quantity for both a perfectly competitive firm and a monopoly?
 a. Price equals marginal cost.
  b. Price is greater than marginal cost.
  c. Marginal revenue equals marginal cost.
  d. Marginal revenue is less than marginal cost.
  e. Marginal revenue is greater than average revenue.


emsimon14

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Flower part number is a characteristic difference between monocots and eudicots (a) Flowers and buds Flower part number is a characteristic difference between monocots and eudicots (a) Flowers and buds
Competition in a forest can be as intense as competition on a coral reef. However, much of the compe Competition in a forest can be as intense as competition on a coral reef. However, much of the compe
Psoriasis. This photograph demonstrates the characteristic white skin patches of this condition. Psoriasis. This photograph demonstrates the characteristic white skin patches of this condition.
In 1891 William Dean Howells championed the poetry of Emily Dickinson: “This poetry is as characteri In 1891 William Dean Howells championed the poetry of Emily Dickinson: “This poetry is as characteri
Chromatin fibers characteristic of the interphase nucleus Chromatin fibers characteristic of the interphase nucleus
(a) The characteristic karyotype of Klinefelter syndrome. (b) The young man (left) in these photos h (a) The characteristic karyotype of Klinefelter syndrome. (b) The young man (left) in these photos h
Video: HDL (high density lipoprotein)

For a complete list of videos, visit our video library