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 122 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 word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

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

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

The different types of competition in nature. The different types of competition in nature.
The U.S. Long-Term Ecological Research (LTER) network. The U.S. Long-Term Ecological Research (LTER) network.
A full-term pregnancy. Image illustrates position of the fetus and the structures associated with pr A full-term pregnancy. Image illustrates position of the fetus and the structures associated with pr
Real Price of Oil, 1861–2010 Real Price of Oil, 1861–2010
Helgeson Company has identified the following items for possible inclusion when taking a ... Helgeson Company has identified the following items for possible inclusion when taking 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: Tuberculosis Testing

For a complete list of videos, visit our video library