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 42 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?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Competition can be (a) direct, or (b) indirect interaction among individuals of the same or differen Competition can be (a) direct, or (b) indirect interaction among individuals of the same or differen
Discipline-specific training can take years to perfect. Discipline-specific training can take years to perfect.
Perfect logistic curves Perfect logistic curves
Biking competition in the park Biking competition in the park
Energy requirements of an uncatalyzed versus an enzymatically catalyzed chemical reaction Energy requirements of an uncatalyzed versus an enzymatically catalyzed chemical reaction
Lastlings - Perfect World (Official Music Video) Lastlings - Perfect World (Official Music Video)
Video: Glycolysis - Introduction to ATP and the burning of sugar

For a complete list of videos, visit our video library