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Author Question: As firms enter a perfectly competitive market, the price A) falls and the existing firms' ... (Read 151 times)

mydiamond

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on: Jun 29, 2018
As firms enter a perfectly competitive market, the price
 
  A) falls and the existing firms' economic profits do not change.
  B) rises and the existing firms' economic profits decrease.
  C) falls and the existing firms' economic profits decrease.
  D) falls and the existing firms' economic losses do not change.

Question 2

In comparison to an employer in a competitive labor market, a monopsony employer pays a ________ wage rate and hires ________ workers.
 
  A) lower; fewer
  B) lower; more
  C) higher; more
  D) higher; fewer


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pallen55

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A


mydiamond

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

yeungji

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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