A perfectly competitive firm faces a perfectly elastic demand ...

[ssal]

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

[patma1981]

Answer to Question 1

True

Answer to Question 2

b

[ssal]

Wow, this really help

[Joy Chen]

Thanks for the timely response, appreciate it