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

Author Question: Which of the following assumptions about perfectly competitive markets is primarily responsible for ... (Read 28 times)

llesku

  • Full Member
  • ***
  • Posts: 175
on: Oct 12, 2022

Question 1

Which of the following terms would best describe the price elasticity of demand facing a perfectly competitive firm?
◦ inelastic
◦ perfectly inelastic
◦ elastic
◦ perfectly elastic
◦ unit

Question 2

Which of the following assumptions about perfectly competitive markets is primarily responsible for firms having zero economic profit in long run equilibrium?
◦ strategic behaviour
◦ homogeneous product
◦ consumers are aware of all firms' prices
◦ each firm is small relative to the size of the industry
◦ freedom of entry and exit in the industry
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by llesku on Oct 12, 2022

viper01

  • Full Member
  • ***
  • Posts: 160
Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


llesku

  • Member
  • Posts: 175
Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

amandanbreshears

  • Member
  • Posts: 320
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

The testes. In addition to producing sperm, the testes secrete the male sex hormones, primarily test The testes. In addition to producing sperm, the testes secrete the male sex hormones, primarily test
Assumptions of race-ethnicity can have unusual consequences. In this photo, Ethiopian Jews in ... Assumptions of race-ethnicity can have unusual consequences. In this photo, Ethiopian Jews in ...
Waste is responsible for 3.6% of global greenhouse gas emissions Waste is responsible for 3.6% of global greenhouse gas emissions
Land use change and forestry are responsible for 18% of global greenhouse gas emissions Land use change and forestry are responsible for 18% of global greenhouse gas emissions
The Economics of Money, Banking and Financial Markets, Business School Edition The Economics of Money, Banking and Financial Markets, Business School Edition
Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition
Video: Arthritis

For a complete list of videos, visit our video library