« previous next »

Author Question: A monopolistically competitive industry is like a perfectly competitive industry in the sense that: ... (Read 488 times)

D2AR0N

  • Hero Member
  • *****
  • Posts: 561
on: Jun 30, 2018
A monopolistically competitive industry is like a perfectly competitive industry in the sense that:
 a. non-price competition is significant in both industries.
 b. there are no substantial barriers to entry in both cases.
 c. economic profits in long run equilibrium are zero in both cases.
  d. both (b) and (c) are true.

Question 2

An externality can occur when:
 a. a voluntary transaction between two individuals creates economic value.
  b. a person's action affects another's wealth either positively or negatively.
  c. a self-interested individual tries to maximize his/her profits.
  d. a voluntary transaction between two individuals creates economic loss.


poopface

  • Sr. Member
  • ****
  • Posts: 339
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Refinement of skills and a growing sense of independence are most noted in toddlers Refinement of skills and a growing sense of independence are most noted in toddlers
Competitive inhibition Competitive inhibition
A substrate and its competitive inhibitor A substrate and its competitive inhibitor
The impact of industry and manufacturing on our life The impact of industry and manufacturing on our life
Competitive firms and maximization Competitive firms and maximization
The Oil Industry: BOEM iron triangle The Oil Industry: BOEM iron triangle
Video: Phases of an Action Potential - Resting Potential, Threshold, Rising, Falling, & Recovery Phases

For a complete list of videos, visit our video library