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 62 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

peter

  • Member
  • Posts: 330
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Acromegaly in one individual from a pair of identical twins. Acromegaly in one individual from a pair of identical twins.
Richard Wrangham’s “female-bonded” theory of intergroup competition was highly influential in our un Richard Wrangham’s “female-bonded” theory of intergroup competition was highly influential in our un
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
Umberto Boccioni, Unique Forms of Continuity in Space. Umberto Boccioni, Unique Forms of Continuity in Space.
Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ... Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ...
European swimming competition European swimming competition
Video: Coronary Heart Disease Animation

For a complete list of videos, visit our video library