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 60 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
Gracias!

ASDFGJLO

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Your heart beats over 36 million times a year.

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Violating Background Assumptions Violating Background Assumptions
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 ...
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
Farmers’ markets provide fresh, local produce to consumers Farmers’ markets provide fresh, local produce to consumers
A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ... A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ...
Competitive firms and maximization Competitive firms and maximization
Video: B cells and antibodies

For a complete list of videos, visit our video library