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

Author Question: Which of the following is unique to perfect competition? a. The individual firm cannot earn ... (Read 63 times)

cabate

  • Hero Member
  • *****
  • Posts: 537
on: Jun 30, 2018
Which of the following is unique to perfect competition?
 a. The individual firm cannot earn economic profit in the long run.
  b. It is easy for new firms to enter the industry.
  c. The market demand curve slopes downward.
  d. The demand curve facing an individual firm is perfectly elastic.
  e. The firms in the industry produce a homogeneous product.

Question 2

Legislators often have difficulty passing legislation with widespread benefits, but that imposes concentrated costs because those who bear the costs will __________ the legislation, while those who would reap the benefits will __________ the legislation.
 a. protest; actively support
  b. not protest; not actively support
  c. not protest; actively support
  d. protest; not actively support
  e. protest; protest


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

duke02

  • Sr. Member
  • ****
  • Posts: 312
Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

D


cabate

  • Member
  • Posts: 537
Reply 2 on: Jun 30, 2018
Wow, this really help

Perkypinki

  • Member
  • Posts: 339
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

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

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

An individual's performance can be limited by environmental conditions, such as temperature. Ac An individual's performance can be limited by environmental conditions, such as temperature. Ac
A biological profile from the bony remains of an individual may be preferable to a DNA profile for a A biological profile from the bony remains of an individual may be preferable to a DNA profile for a
Jean Piaget influenced the field of developmental science more than any other individual. Jean Piaget influenced the field of developmental science more than any other individual.
There are many ways for an individual to monitor his or her blood glucose level There are many ways for an individual to monitor his or her blood glucose level
The lifetime risk for schizophrenia varies with the degree of relationship to an affected individual The lifetime risk for schizophrenia varies with the degree of relationship to an affected individual
Concepts related to the pathogenesis of myocardial infarction in an individual with diabetes. Concepts related to the pathogenesis of myocardial infarction in an individual with diabetes.
Video: Central Nervous System Animation

For a complete list of videos, visit our video library