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 71 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?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

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 first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Color mixtures of reflected pigment—subtractive process Color mixtures of reflected pigment—subtractive process
Divorces are often messy. To settle the question of who gets the house, a couple in Cambodia sawed ... Divorces are often messy. To settle the question of who gets the house, a couple in Cambodia sawed ...
How to solve an exponential growth problem involving bacterial growth (Question 2) How to solve an exponential growth problem involving bacterial growth (Question 2)
How to fully analyze the standard and factored form of a quadratic equation (Question 2) How to fully analyze the standard and factored form of a quadratic equation (Question 2)
Please solve this quadractic question Please solve this quadractic question
economic question economic question
Video: Factors that increase metabolic rate and heat production

For a complete list of videos, visit our video library