The perfectly competitive model assumes that: a. individual ...

[Hungry!]

The perfectly competitive model assumes that:
 a. individual sellers can influence the market price.
 b. sellers can increase their total revenue by raising prices.
 c. firms can enter and exit the industry with relative ease.
 d. firms compete by varying a product's quality rather than a product's price.

Question 2

Unlike nonrenewable resources, the timing of extraction of renewable resources are independent of the market rate of interest.
 a. True
  b. False
  Indicate whether the statement is true or false

[kaylee05]

Answer to Question 1

c

Answer to Question 2

False

[Hungry!]

Excellent

[patma1981]

Thanks for the timely response, appreciate it