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Author Question: In the perfectly competitive market, individual firms exert no effect on the market price. ... (Read 132 times)

saraeharris

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In the perfectly competitive market, individual firms exert no effect on the market price. Therefore, the firm's marginal revenue curve is:
 a. indeterminate.
  b. an upward-sloping curve.
  c. a downward-sloping curve.
  d. the same as the firm's demand curve.

Question 2

The more inelastic the demand for a product, the more the actual burden of a tax on the product will:
 a. fall on sellers.
  b. fall on buyers.
  c. fall equally on both buyers and sellers.
  d. create a larger deadweight loss (or excess burden).



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Zack0mack0101@yahoo.com

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Answer to Question 1

d

Answer to Question 2

b




saraeharris

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Reply 2 on: Jun 30, 2018
Excellent


epscape

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Reply 3 on: Yesterday
Wow, this really help

 

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