« previous next »

Author Question: Which of the following is not a characteristic of perfect competition? a. A commodity product b. A ... (Read 67 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?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Flower part number is a characteristic difference between monocots and eudicots Flower part number is a characteristic difference between monocots and eudicots
A horse and rider in dressage competition at the Olympics A horse and rider in dressage competition at the Olympics
Rivers Are a Product of Their Watersheds Rivers Are a Product of Their Watersheds
Product safety Product safety
Use the product rule to find derivative Use the product rule to find derivative
Chromatin fibers characteristic of the interphase nucleus Chromatin fibers characteristic of the interphase nucleus
Video: ATPase function - membrane transport, contractile proteins and synthesis

For a complete list of videos, visit our video library