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 23 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
:D TYSM

peter

  • Member
  • Posts: 330
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

How to integrate using inverse trigonometric substitution (Question 1) How to integrate using inverse trigonometric substitution (Question 1)
Molecular Genetics DNA picture matching question Molecular Genetics DNA picture matching question
Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition
Economics question Economics question
economic question economic question
Math question Math question
Video: Types of synapses - electrical & chemical

For a complete list of videos, visit our video library