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

Author Question: According to your authors, the following is a necessary condition for a competitive market: A) ... (Read 48 times)

jazziefee

  • Hero Member
  • *****
  • Posts: 505
on: Jun 29, 2018
According to your authors, the following is a necessary condition for a competitive market:
 
  A) Large numbers of buyers and sellers
  B) Full and complete information
  C) Freedom of entry
  D) Identical products
  E) All of the above.

Question 2

Positive economic profits in a perfectly competitive market imply that:
 
  A) producers are earning more than their opportunity cost.
  B) existing firms are likely to leave the market.
  C) the cost of production is equalized across producers.
  D) government intervention is required to stabilize the market.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bobsmith

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A


jazziefee

  • Member
  • Posts: 505
Reply 2 on: Jun 29, 2018
Excellent

vickybb89

  • Member
  • Posts: 347
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Renal calculi (stones) can form in several areas within the urinary tract. When they form in the kid Renal calculi (stones) can form in several areas within the urinary tract. When they form in the kid
Intussusception. The condition is caused by an infolding of the small intestine, which often causes Intussusception. The condition is caused by an infolding of the small intestine, which often causes
Competitive inhibitor Competitive inhibitor
Stock Market Question Stock Market Question
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
Competitive firms and maximization Competitive firms and maximization
Video: Contraction and Relaxation Animation

For a complete list of videos, visit our video library