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 31 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
YES! Correct, THANKS for helping me on my review

shailee

  • Member
  • Posts: 392
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

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.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

The cotton-top tamarin (Saguinus oedipus), also known as the Pinche tamarin, is a small New W The cotton-top tamarin (Saguinus oedipus), also known as the Pinche tamarin, is a small New W
Multiple sclerosis (MS). (a) A disease characterized by the gradual development of small areas of ha Multiple sclerosis (MS). (a) A disease characterized by the gradual development of small areas of ha
Small Town USA: Struggling to Survive Small Town USA: Struggling to Survive
Facilitated Diffusion: Absorption Methods in the Small Intestine Facilitated Diffusion: Absorption Methods in the Small Intestine
Preserve Your Vitamins! Cook your vegetables in a small amount of water Preserve Your Vitamins! Cook your vegetables in a small amount of water
Muscle action in the small intestine Muscle action in the small intestine
Video: Polymerase chain reaction PCR - Animation

For a complete list of videos, visit our video library