This topic contains a solution. Click here to go to the answer

Author Question: If there is a permanent decrease in demand in a perfectly competitive market, then there is an ... (Read 77 times)

a0266361136

  • Hero Member
  • *****
  • Posts: 538
If there is a permanent decrease in demand in a perfectly competitive market, then there is an initial ________ in price and existing firms ________.
 
  A) rise; make an economic profit
  B) rise; incur an economic loss
  C) fall; make an economic profit
  D) fall; incur an economic loss

Question 2

The price of a computer is 1,000 and the price of a car is 12,000. What is the relative price of a car? What is the relative price of a computer?
 
  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

sierramartinez

  • Sr. Member
  • ****
  • Posts: 313
Answer to Question 1

D

Answer to Question 2

The relative price of a car is 12,000 per car  1,000 per computer = 12 computers per car. The relative price of a computer is 1,000 per computer  12,000 per car = 0.083 of a car per computer.




a0266361136

  • Member
  • Posts: 538
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it


upturnedfurball

  • Member
  • Posts: 334
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

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.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

For a complete list of videos, visit our video library