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 82 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
Thanks for the timely response, appreciate it

nguyenhoanhat

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Excellent

« previous next »
 

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?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

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
Pulmonary function test: spirometry. (a) Normal respiratory volumes, as measured during spirometry. Pulmonary function test: spirometry. (a) Normal respiratory volumes, as measured during spirometry.
Compared with modern humans, Homo erectus has a larger face, lacks a chin and canine fossa, and has Compared with modern humans, Homo erectus has a larger face, lacks a chin and canine fossa, and has
Effect of Perceived Price of a Drug on Placebo Analgesia Effect of Perceived Price of a Drug on Placebo Analgesia
Notice the small motor gear on the left drives a larger plastic gear (black), which then drives ... Notice the small motor gear on the left drives a larger plastic gear (black), which then drives ...
Muscle action in the small intestine Muscle action in the small intestine
Video: Types of Shock (Part 2 of 2)

For a complete list of videos, visit our video library