Author Question: A perfectly competitive firm faces a perfectly elastic demand curve. a. True b. False Indicate ... (Read 231 times)

ssal · **on:** Jun 30, 2018

A perfectly competitive firm faces a perfectly elastic demand curve.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Which of the following actions can be categorized as rent seeking?
a. Increase in the income tax rates by the government
b. Lobbying efforts of individuals or groups to gain favors from the government
c. Profit maximizing firms charging a price greater than their marginal costs
d. Export of goods from developing to developed countries
e. Government intervention in the real estate market