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

Author Question: Firms in perfect competition are price takers because A) each firm is too small relative to the ... (Read 190 times)

kfurse

  • Hero Member
  • *****
  • Posts: 590
on: Jun 29, 2018
Firms in perfect competition are price takers because
 
  A) each firm is too small relative to the market to be able to influence price.
  B) one firm determines the price that all other firms in the industry will charge.
  C) firms accept the price determined by the government.
  D) consumers have enough market power to set prices.

Question 2

The Santa Fe Spark Plug Company supplies spark plugs to automotive parts dealers. An increase in the demand for its product led Santa Fe to hire 150 new workers.
 
  Santa Fe also plans to expand the capacity of its plant but this project will take 2 years to complete. Which of the following statements is true?
  A) The long run for Santa Fe is longer than 1 year.
  B) The wages and benefits paid to the new workers are implicit costs.
  C) In the short run Santa Fe's variable costs increase but its fixed costs decrease.
  D) The short run for Santa Fe is 1 year.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

raili21

  • Sr. Member
  • ****
  • Posts: 324
Reply #1 on: Jun 29, 2018
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 49% of students answer this correctly


kfurse

  • Member
  • Posts: 590
Reply 2 on: Jun 29, 2018
Excellent

steff9894

  • Member
  • Posts: 337
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

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?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Firms Incorporated into U.S. Steel Firms Incorporated into U.S. Steel
"Practice makes perfect" "Practice makes perfect"
Small Avocado vs Large Avocado Small Avocado vs Large Avocado
Nutrients Are Absorbed through the Small Intestine Nutrients Are Absorbed through the Small Intestine
An 8th grade class develops a linear model that predicts the number of cheerios (a small round ... An 8th grade class develops a linear model that predicts the number of cheerios (a small round ...
Lastlings - Perfect World (Official Music Video) Lastlings - Perfect World (Official Music Video)
Video: Contraction and Relaxation Animation

For a complete list of videos, visit our video library