[Answered] The demand curve for the output of a perfectly competitive firm is a. perfectly inelastic b. ...

This topic contains a solution. Click here to go to the answer

Author Question: The demand curve for the output of a perfectly competitive firm is a. perfectly inelastic b. ... (Read 34 times)

fnuegbu

Hero Member
Posts: 539

on: Jun 30, 2018

The demand curve for the output of a perfectly competitive firm is
a. perfectly inelastic
b. perfectly elastic
c. unit elastic
d. downward sloping
e. nonlinear

Question 2

A natural monopoly results when a firm has
a. a license
b. a patent
c. official approval to produce a product
d. decreasing average costs over the range of market demand
e. exclusive use of a natural resource

Need homework help now?

Ask unlimited questions for free

Ask a Question

Marked as best answer by a Subject Expert

josephsuarez

Sr. Member
Posts: 323

Reply #1 on: Jun 30, 2018

Answer to Question 1

B

Answer to Question 2

D

fnuegbu

Member
Posts: 539

Reply 2 on: Jun 30, 2018

Excellent

nanny

Member
Posts: 313

Reply 3 on: Yesterday

TYSM

« previous next »

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.