This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following is TRUE regarding a perfectly competitive firm? A) The firm can charge a ... (Read 35 times)

jeatrice

  • Hero Member
  • *****
  • Posts: 543
on: Jun 29, 2018
Which of the following is TRUE regarding a perfectly competitive firm?
 
  A) The firm can charge a lower price than its competitors and thereby sell more output and increase its profits.
  B) The firm always earns a normal profit.
  C) The firm's marginal revenue continually decreases.
  D) The firm's minimum efficient scale is small relative to the market demand.

Question 2

New growth theory assumes that
 
  A) all inputs experience diminishing returns.
  B) only random technological advances produce growth.
  C) knowledge does not experience diminishing returns.
  D) None of the above answers is correct.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

vkodali

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


jeatrice

  • Member
  • Posts: 543
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

tkempin

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Excellent

« previous next »
 

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.

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?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Greet a First-Time Client With a Firm Handshake. Greet a First-Time Client With a Firm Handshake.
Effects of competitive inhibition on enzyme kinetics Effects of competitive inhibition on enzyme kinetics
A substrate and its competitive inhibitor A substrate and its competitive inhibitor
Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition
Midsagittal section indicating locations of true and false pelves Midsagittal section indicating locations of true and false pelves
A diagram showing one of Mendel’s crosses. True-breeding strains of pea plants with smooth and ... A diagram showing one of Mendel’s crosses. True-breeding strains of pea plants with smooth and ...
Video: Transcription - Introns and exons

For a complete list of videos, visit our video library