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

Author Question: Refer to Figure 5-15. Identify the area that shows the deadweight loss from overfishing. A) efh ... (Read 55 times)

Mr3Hunna

  • Hero Member
  • *****
  • Posts: 536
on: Jun 29, 2018
Refer to Figure 5-15. Identify the area that shows the deadweight loss from overfishing.
 
  A) efh B) ekh C) eghk D) egh

Question 2

Why is a firm in perfect competition a price taker?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Leostella20

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

One firm's output is a perfect substitute for another firm's output and each firm is a small part of the market. These points imply that each firm cannot unilaterally influence the market price at which it can sell its good or service. It must accept, or take the market equilibrium pricehence the term, price taker.


Mr3Hunna

  • Member
  • Posts: 536
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

AISCAMPING

  • Member
  • Posts: 347
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Emphysema. (a) Illustration comparing normal lungs and emphysemic lungs. The inserts illustrate how Emphysema. (a) Illustration comparing normal lungs and emphysemic lungs. The inserts illustrate how
A typical reception area in a medical office. A typical reception area in a medical office.
Using alert labels enables the medical staff to quickly identify important information such as ... Using alert labels enables the medical staff to quickly identify important information such as ...
An example of a selection list used to identify symptoms. An example of a selection list used to identify symptoms.
Mobilize hand and wrist joints. Apply scissoring to knuckles and figure-8s to fingers. Holding the ... Mobilize hand and wrist joints. Apply scissoring to knuckles and figure-8s to fingers. Holding the ...
Colossal Figure of Akhenaten Colossal Figure of Akhenaten
Video: Type of Transport - Active and Passive Processes

For a complete list of videos, visit our video library