Perfectly competitive markets are characterized by: a. rivalry ...

[mwit1967]

Perfectly competitive markets are characterized by:
 a. rivalry in product design.
 b. competition in terms of product quality.
 c. attempts by sellers to outdo one another with good service.
  d. none of the above.

Question 2

An imposition of tax by the government for funding welfare programs raises the cost of labor to firms as:
 a. the demand for labor increases.
  b. the demand for labor decreases.
  c. the supply of labor decreases.
  d. the supply of labor increases.
  e. the opportunity cost of leisure increases.

[gcook]

Answer to Question 1

d

Answer to Question 2

c

[mwit1967]

Gracias!

[cassie_ragen]

Thanks for the timely response, appreciate it