« previous next »

Author Question: The demand curve faced by a perfectly competitive firm is: a. downward sloping. b. the same as the ... (Read 45 times)

asmith134

  • Hero Member
  • *****
  • Posts: 576
on: Jun 30, 2018
The demand curve faced by a perfectly competitive firm is:
 a. downward sloping.
  b. the same as the market demand curve.
  c. horizontal.
  d. perfectly inelastic.

Question 2

When Glaxo-Wellcome introduced AZT, an AIDS drug, it was able to enjoy high profits because:
 a. the drug was highly recommended by doctors.
  b. of the quick response of rivals in introducing substitute drugs.
  c. of barriers to entry provided by patents.
  d. of its competitive price in the pharmaceutical industry.
  e. it experienced constant returns to scale in the long run.


Natalie4ever

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Saffron-faced Blue Dart Pseudagrion rubriceps Saffron-faced Blue Dart Pseudagrion rubriceps
Eye ball perfectly labelled (map) Eye ball perfectly labelled (map)
The S-curve in the human vertebral column--a result of the evolution of bipedality--makes humans hig The S-curve in the human vertebral column--a result of the evolution of bipedality--makes humans hig
An Oil-dependent World— Supply and Demand Driven An Oil-dependent World— Supply and Demand Driven
Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies
Construct a Lorenz curve that shows income distribution in this society. Construct a Lorenz curve that shows income distribution in this society.
Video: How antibiotics works? 💊

For a complete list of videos, visit our video library