Author Question: Which of the following is inconsistent with the model of perfect competition? a. ease of entry into ... (Read 166 times)

Zulu123 · **on:** Jun 30, 2018

Which of the following is inconsistent with the model of perfect competition?
a. ease of entry into an industry
b. ease of exit from an industry
c. many buyers and sellers in the industry
d. advertising of product differences in the industry
e. a horizontal demand curve facing each firm in the industry

Question 2

Special-interest groups, such as the pharmaceutical lobby, often get what they demand because
a. politicians are rationally ignorant
b. voters are rationally ignorant
c. they engage in logrolling
d. they represent the median voter
e. none of the above