« previous next »

Author Question: State any two properties of the perfectly competitive market.[br][br][b][color=#A83E49]Question ... (Read 79 times)

Chloeellawright

  • Hero Member
  • *****
  • Posts: 588
on: Jun 30, 2018
State any two properties of the perfectly competitive market.

Question 2

For a perfectly competitive firm the break-even price is equal to the shutdown price in the short run.
 a. True
  b. False
  Indicate whether the statement is true or false


todom5090

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jun 30, 2018
Answer to Question 1

All sellers in a perfectly competitive market are price takers. The products produced by each seller in a perfectly competitive market are homogenous.

Answer to Question 2

False


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

How to solve a word problem involving trigonometric models (Question 2) How to solve a word problem involving trigonometric models (Question 2)
Structure and properties of pro-opiomelanocortin Structure and properties of pro-opiomelanocortin
Functions and Properties of Blood Functions and Properties of Blood
this is a math question this is a math question
economic question economic question
economic question economic question
Video: Amniocentesis and CVS Animation

For a complete list of videos, visit our video library