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

Author Question: What are the characteristics of a perfectly competitive industry?[br][br][b][color=#7BCCB5]Question ... (Read 49 times)

tiara099

  • Hero Member
  • *****
  • Posts: 588
on: Jun 30, 2018
What are the characteristics of a perfectly competitive industry?

Question 2

According to the Heckscher-Ohlin model:
 a. a relatively labor scarce country produces labor intensive goods.
  b. the labor productivity varies across different countries.
  c. the technological advancement varies across countries.
  d. the taste and preference patterns of the consumers are not similar across the countries.
  e. a capital abundant country exports sophisticated, manufactured products.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

joshbk44

  • Sr. Member
  • ****
  • Posts: 340
Reply #1 on: Jun 30, 2018
Answer to Question 1

In a perfectly competitive industry there are many buyers and sellers and there are relatively low barriers to entry and exit from the industry. Firms are price takers since they are such a small portion of the total market and produce homogeneous products.

Answer to Question 2

e


tiara099

  • Hero Member
  • *****
  • Posts: 588
Reply #2 on: Jun 30, 2018
Correct answers!


joshbk44

  • Sr. Member
  • ****
  • Posts: 340
Reply #3 on: Jun 30, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Genetic variation in the color of corn kernels Genetic variation in the color of corn kernels
Color monitor for a computer system. Color monitor for a computer system.
The phenotypic distribution in a cross with two traits: seed color and seed shape. Plants in the F2 The phenotypic distribution in a cross with two traits: seed color and seed shape. Plants in the F2
homework question homework question
Characteristics of Various Depths of Burns Characteristics of Various Depths of Burns
No gene interaction in the production of feather color in budgerigar parakeets No gene interaction in the production of feather color in budgerigar parakeets
Video: How proteins function? How do proteins work?

For a complete list of videos, visit our video library