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 67 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
Gracias!

kilada

  • Member
  • Posts: 311
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

The Cardiac Landmarks. A = Aortic Area; P = Pulmonic Area; E = Erb’s Point; T = Tri The Cardiac Landmarks. A = Aortic Area; P = Pulmonic Area; E = Erb’s Point; T = Tri
Glaucoma. (a) A buildup of pressure within the eye cavities, often caused by a blockage of vessels t Glaucoma. (a) A buildup of pressure within the eye cavities, often caused by a blockage of vessels t
This engraving by William Russell Birch shows Congress Hall (left), which was occupied by Congress f This engraving by William Russell Birch shows Congress Hall (left), which was occupied by Congress f
Large water tank, possibly a public or ritual bathing area, from Mohenjo-daro, Indus Valley ... Large water tank, possibly a public or ritual bathing area, from Mohenjo-daro, Indus Valley ...
Which of the above illustrations shows an acidic aqueous solution Which of the above illustrations shows an acidic aqueous solution
Vision Loss Due to Macular Degeneration Vision Loss Due to Macular Degeneration
Video: DNA fingerprinting Animation

For a complete list of videos, visit our video library