This topic contains a solution. Click here to go to the answer

Author Question: The market-clearing price is: a. the price at which the market is in equilibrium. b. the price at ... (Read 151 times)

kshipps

  • Hero Member
  • *****
  • Posts: 571
The market-clearing price is:
 a. the price at which the market is in equilibrium.
  b. the price at which mutually beneficial trade take place.
  c. the price at which sellers earn the maximum profit.
  d. the price at which consumer surplus is zero.

Question 2

The only decision that a perfectly competitive firm makes is:
 a. what price to charge.
  b. what quantity to produce.
  c. how much to spend on advertisements.
  d. how much to discriminate on the basis of price.
  e. how to differentiate its products from its rivals.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cuttiesgirl16

  • Sr. Member
  • ****
  • Posts: 345
Answer to Question 1

A

Answer to Question 2

b





 

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

For a complete list of videos, visit our video library