Author Question: In the long run, the firms in a perfectly competitive market A) maximize their profit. B) make ... (Read 134 times)

nramada

  • Hero Member
  • *****
  • Posts: 580
In the long run, the firms in a perfectly competitive market
 
  A) maximize their profit.
  B) make an economic profit.
  C) display price setting behavior.
  D) are protected by barriers to entry.

Question 2

A market structure in which there is only one buyer is
 
  A) a monopoly.
  B) a monopsony.
  C) an oligopoly.
  D) a competitive market.



fraziera112

  • Sr. Member
  • ****
  • Posts: 356
Answer to Question 1

A

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

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.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

For a complete list of videos, visit our video library