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Author Question: The supply-and-demand model may not be appropriate in markets with large transaction costs. ... (Read 93 times)

jon_i

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on: Jul 1, 2018
The supply-and-demand model may not be appropriate in markets with large transaction costs.
 
  Indicate whether the statement is true or false

Question 2

Suppose that firm A obtained a patent for a new medication that cures certain types of cancer. Which assumption of the supply-and-demand model does not hold in this example?
 
  A) Everyone is a price taker.
  B) Products are homogeneous.
  C) Trading costs are low.
  D) Everyone has full information about the price and quality of goods.
Microeconomics ¦ Perloff ¦ 8th Edition
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katkat_flores

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Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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jon_i

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

atrochim

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Reply 3 on: Yesterday
Excellent

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