This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following could be true of perfect competition but not of monopoly? a. The government ... (Read 78 times)

vinney12

  • Hero Member
  • *****
  • Posts: 586
on: Jun 30, 2018
Which of the following could be true of perfect competition but not of monopoly?
 a. The government licenses production of the good to a few firms.
  b. The government grants a patent for the good.
  c. A firm can earn economic profit in the long run.
  d. If price falls below average variable cost, it pays to shut down.
  e. There are no barriers to entry.

Question 2

Which of the following is not characteristic of perfect competition?
 a. many buyers and sellers
  b. brand name advertising
  c. standardized products
  d. fully informed buyers and sellers
  e. free entry and exit of firms


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jlaineee

  • Sr. Member
  • ****
  • Posts: 380
Reply #1 on: Jun 30, 2018
Answer to Question 1

E

Answer to Question 2

B


vinney12

  • Hero Member
  • *****
  • Posts: 586
Reply #2 on: Jun 30, 2018
Thank you :)


jlaineee

  • Sr. Member
  • ****
  • Posts: 380
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Apparent and True Orbits of Alpha Centauri. Apparent and True Orbits of Alpha Centauri.
(a) Male competition can be fierce. (b) This male baboon has bite wounds suffered in competition wit (a) Male competition can be fierce. (b) This male baboon has bite wounds suffered in competition wit
This modified model of Easton’s systems theory puts government decision makers as the source of pol This modified model of Easton’s systems theory puts government decision makers as the source of pol
Which of the following statements is true of linkage? Which of the following statements is true of linkage?
A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan
Government Corruption versus GDP per Capita, 2009 Government Corruption versus GDP per Capita, 2009
Video: Osteoporosis

For a complete list of videos, visit our video library