« previous next »

Author Question: Why can't a firm in a perfectly competitive industry charge a price above the market-clearing price? ... (Read 170 times)

dbose

  • Hero Member
  • *****
  • Posts: 597
on: Jun 30, 2018
Why can't a firm in a perfectly competitive industry charge a price above the market-clearing price?
 a. Government-imposed price ceilings prevent prices from being raised.
 b. Firms in a perfectly competitive industry face significant barriers to entry.
  c. Perfectly competitive firms are price searchers.
 d. Numerous competitors produce the same product and charge the market price.

Question 2

With the passage of time as the availability of an exhaustible resource declines, the cost of extraction of the resource increases.
 a. True
  b. False
  Indicate whether the statement is true or false


ky860224

  • Sr. Member
  • ****
  • Posts: 350
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

True


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r
Plan of Trajan's Forum and Market "خطة منتدى ترجان والسوق" Plan of Trajan's Forum and Market "خطة منتدى ترجان والسوق"
Food policy can drive the food industry Food policy can drive the food industry
Iraqi market Iraqi market
Your company advertises all prices on the menu board as a final price, including HST of 13%. A ... Your company advertises all prices on the menu board as a final price, including HST of 13%. A ...
Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ... Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ...
Video: Embryonic development - Weeks 5 to 8

For a complete list of videos, visit our video library