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Author Question: Perfectly competitive markets are characterized by: a. rivalry in product design. b. competition in ... (Read 53 times)

mwit1967

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on: Jun 30, 2018
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.


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gcook

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

c


mwit1967

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

bimper21

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

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