Author Question: Which of the following is true of firms in both monopolistic competition and perfect competition? ... (Read 106 times)

lidoalex

  • Hero Member
  • *****
  • Posts: 538
Which of the following is true of firms in both monopolistic competition and perfect competition?
 a. Firms face a horizontal demand curve.
  b. Price exceeds marginal revenue.
  c. Firms can enter and leave the industry with relative ease.
  d. Price exceeds marginal cost.
  e. Products are differentiated.

Question 2

Environmentalists, worried about sulfur dioxide in the air, pressure the government to require bus manufacturers to modify exhaust systems in buses. In this situation,
 a. benefits of the proposed requirements are more widespread than costs
  b. benefits and costs of the proposed requirements are equally widespread because producers of buses will pass cost increases on to bus companies who will increase fares
  c. pressure for government regulation is unnecessary because those who use buses will stop riding buses if they don't have cleaner emissions
  d. bus riders are more likely to lobby against the proposal than are bus producers
  e. bus riders are more likely to lobby against the proposal than are bus workers



Zack0mack0101@yahoo.com

  • Sr. Member
  • ****
  • Posts: 341
Answer to Question 1

C

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

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

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

For a complete list of videos, visit our video library