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Author Question: If the perfectly competitive wiffle ball industry is bearing economic losses, we would expect that: ... (Read 79 times)

JMatthes

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If the perfectly competitive wiffle ball industry is bearing economic losses, we would expect that:
 a. output will increase, the price of wiffle balls will rise, and the economic losses would tend to disappear.
  b. output will decrease, the price of wiffle balls will fall, and the economic losses would tend to increase.
  c. output will decrease, the price of wiffle balls will rise, and the economic losses would tend to disappear.
  d. output will increase, the price of wiffle balls will fall, and the economic losses would tend to disappear.

Question 2

A tradesman who purchases diamonds in a country where the price is low and sells them in another country where the price is high, can be said to be practicing:
 a. arbitrage.
  b. speculation.
  c. derivatives trading.
  d. forecasting.



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DHRUVSHAH

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Answer to Question 1

c

Answer to Question 2

A




JMatthes

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review


Zebsrer

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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