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

Author Question: What are the requirements for perfect competition? What will be an ideal ... (Read 34 times)

rosent76

  • Hero Member
  • *****
  • Posts: 516
on: Jun 29, 2018
What are the requirements for perfect competition?
 
  What will be an ideal response?

Question 2

Consider the country of Outland. In Outland, people pay 10 percent of their income as a tax whether they earn 10,000 or 100,000 annually. Outland has ________ tax structure.
 
  A) a progressive
  B) a regressive
  C) a proportional
  D) an excessive


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

anyusername12131

  • Sr. Member
  • ****
  • Posts: 327
Reply #1 on: Jun 29, 2018
Answer to Question 1

The requirements are: many firms selling an identical product; many buyers; no restrictions on entry into the market; established firms have no advantages over new entrants; and sellers and buyers have good information about prices of each firm's product.

Answer to Question 2

C


rosent76

  • Hero Member
  • *****
  • Posts: 516
Reply #2 on: Jun 29, 2018
Correct answers!


anyusername12131

  • Sr. Member
  • ****
  • Posts: 327
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Competition among Paramecium species. Competition among Paramecium species.
Competition in a forest can be as intense as competition on a coral reef. However, much of the compe Competition in a forest can be as intense as competition on a coral reef. However, much of the compe
Succession in the intertidal zone involves colonization and competition for limited space among spec Succession in the intertidal zone involves colonization and competition for limited space among spec
Sleep Requirements Change with Age Sleep Requirements Change with Age
Perfect Cubes Perfect Cubes
Interference Competition Interference Competition
Video: Role of the respiratory system - effect of altered ventilation rates

For a complete list of videos, visit our video library