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

Author Question: What are the characteristics of the perfectly competitive market?[br][br][b][color=#165FFA]Question ... (Read 54 times)

Caiter2013

  • Hero Member
  • *****
  • Posts: 607
on: Jun 30, 2018
What are the characteristics of the perfectly competitive market?

Question 2

A utility-maximizing consumer would never purchase a good if the:
 a. MU/P is positive.
  b. marginal utility is positive.
  c. marginal utility is negative.
  d. none of these is correct.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Jayson

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

The perfectly competitive market is characterized by a very large number of sellers, firms sell a standardized product, firms are price-takers, there are no barriers to entry and firms do not undertake any non-price competition.

Answer to Question 2

c


Caiter2013

  • Member
  • Posts: 607
Reply 2 on: Jun 30, 2018
Gracias!

tandmlomax84

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Examples of NANDA defining characteristics Examples of NANDA defining characteristics
Specialized values and interests are two of the characteristics that mark subcultures. What values ... Specialized values and interests are two of the characteristics that mark subcultures. What values ...
Question Question
A color-coded record. A color-coded record.
Morphological differences in shell characteristics and head colouration patterns Morphological differences in shell characteristics and head colouration patterns
economic question economic question
Video: Neurotransmission at chemical synapses & Excitory and inhibitory potentials

For a complete list of videos, visit our video library