This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Perfect competition is the term used to describe: a. an industry in which a few price-taking firms ... (Read 128 times)

Garrulous

  • Hero Member
  • *****
  • Posts: 686
on: Jun 30, 2018
Perfect competition is the term used to describe:
 a. an industry in which a few price-taking firms produce identical products.
 b. an industry in which numerous price-taking firms produce identical products.
 c. an industry in which firms are price takers and compete for market share by varying the qualitative characteristics of products.
  d. an industry in which numerous firms are price makers and produce identical products.

Question 2

Like profit-seeking, rent seeking is also a productive activity and contributes to the growth of the economy.
 a. True
  b. False
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

joshbk44

  • Sr. Member
  • ****
  • Posts: 340
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

False


Garrulous

  • Hero Member
  • *****
  • Posts: 686
Reply #2 on: Jun 30, 2018
Thank you :)


joshbk44

  • Sr. Member
  • ****
  • Posts: 340
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan
Mead analyzed taking the role of the other as an essential part of learning to be a full-fledged ... Mead analyzed taking the role of the other as an essential part of learning to be a full-fledged ...
Taking an interesting course can help keep your brain active. These seniors are taking a class in ... Taking an interesting course can help keep your brain active. These seniors are taking a class in ...
Long Term Control Medications Long Term Control Medications
Full-term Twin Full-term Twin
A space probe approaches a planet, taking measurements as it goes. If it detects a potential ... A space probe approaches a planet, taking measurements as it goes. If it detects a potential ...
Video: Introduction to Cystic Fibrosis

For a complete list of videos, visit our video library