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 60 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?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

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

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

The different types of competition in nature. The different types of competition in nature.
Welcome sign for Kenton, Tennessee, an example of competition for "White Squirrel Capital" Welcome sign for Kenton, Tennessee, an example of competition for "White Squirrel Capital"
PIC PERFECT PIC PERFECT
Congruence among values, beliefs, and role requirements supports the development of empowered ... Congruence among values, beliefs, and role requirements supports the development of empowered ...
Biking competition in the park Biking competition in the park
For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately
Video: Studying the Left and Right Brain Independently

For a complete list of videos, visit our video library