This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Perfectly competitive firms are price takers because a. each firm is too small compared to the ... (Read 81 times)

AEWBW

  • Hero Member
  • *****
  • Posts: 579
on: Jun 30, 2018
Perfectly competitive firms are price takers because
 a. each firm is too small compared to the market to be able to affect price
  b. one firm determines price and all other firms accept this price
  c. firms take the price that government determines
  d. firms must accept any price consumers offer them
  e. firms earn high profits by taking consumers

Question 2

Which of the following could not bar entry into an industry?
 a. economies of scale
  b. diseconomies of scale
  c. patents
  d. licenses
  e. one firm's control of essential resources


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

leahm14

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

B


AEWBW

  • Member
  • Posts: 579
Reply 2 on: Jun 30, 2018
Excellent

billybob123

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Comparison of small subunit rRNA gene sequences of vertebrate, invertebrate chordate, and invertebra Comparison of small subunit rRNA gene sequences of vertebrate, invertebrate chordate, and invertebra
Why Cells Are Small 1 Why Cells Are Small 1
Volvulus. A volvulus results when the small intestine twists, causing an obstruction that can lead t Volvulus. A volvulus results when the small intestine twists, causing an obstruction that can lead t
Firms Incorporated into U.S. Steel Firms Incorporated into U.S. Steel
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
Small Plates Small Plates
Video: Chloroplast Structure & Light Dependent Reactions (Photosystem 1 and 2 Cyclic Electron Flow)

For a complete list of videos, visit our video library