« previous next »

Author Question: Which of the following is not a characteristic of perfect competition? a. A commodity product b. A ... (Read 59 times)

leo leo

  • Hero Member
  • *****
  • Posts: 566
on: Jun 30, 2018
Which of the following is not a characteristic of perfect competition?
 a. A commodity product
  b. A large number of independently acting sellers
  c. Freedom of entry
  d. The existence of externalities
  e. Each firm is a price taker

Question 2

Which of the following is true at the profit-maximizing quantity for both a perfectly competitive firm and a monopoly?
 a. Price equals marginal cost.
  b. Price is greater than marginal cost.
  c. Marginal revenue equals marginal cost.
  d. Marginal revenue is less than marginal cost.
  e. Marginal revenue is greater than average revenue.


emsimon14

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

Connell's experimental manipulation of species indicated the presence of competition. Connell's experimental manipulation of species indicated the presence of competition.
Psoriasis. This photograph demonstrates the characteristic white skin patches of this condition. Psoriasis. This photograph demonstrates the characteristic white skin patches of this condition.
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
The hand on the right exhibits the orange-tinged skin characteristic of carotenodermia The hand on the right exhibits the orange-tinged skin characteristic of carotenodermia
Closed and Open Food Product Dating Closed and Open Food Product Dating
Use the product rule to find derivative Use the product rule to find derivative
Video: Chronology of leptin research (A history of leptin research)

For a complete list of videos, visit our video library