Author Question: According to Scenario 8.1, Fizzle and Sizzle A) would be perfectly competitive if their ... (Read 45 times)

fbq8i · **on:** Jul 1, 2018

According to Scenario 8.1, Fizzle and Sizzle

A) would be perfectly competitive if their purification costs were equal; otherwise, not.
B) would be perfectly competitive if it costs Fizzle 500,000 yearly to keep that land.
C) may or may not be perfect competitors, but their position on the river has nothing to do with it.
D) cannot be perfect competitors because they are not identical firms.

Question 2

Which of the following is NOT related to the slope of isoquants?

A) The fact that inputs have positive marginal product
B) The fact that inputs have diminishing marginal product
C) The fact that input prices are positive
D) The fact that more of either input increases output
E) The fact that there are diminishing returns to inputs