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

Author Question: Free entry implies that (Read 48 times)

Shelles

  • Hero Member
  • *****
  • Posts: 582
on: Apr 19, 2019

Question 1

Assume the wool industry is perfectly competitive. The market demand curve for wool is ________ and each individual wool producer's demand curve is ________.


◦ downward sloping; horizontal
◦ horizontal; downward sloping
◦ horizontal; horizontal
◦ downward sloping; downward sloping

Question 2

Free entry implies that


◦ a perfectly competitive firm can never earn a profit.
◦ if firms in an industry are making excessively high profits, new firms are likely to enter the industry.
◦ the government regulates the number of firms that are allowed in an industry.
◦ firms will always earn a profit, as new firms can enter the industry at any time they like.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Shelles on Apr 19, 2019

janieazgirl

  • Sr. Member
  • ****
  • Posts: 300
Reply #1 on: Apr 19, 2019
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.
Answer Preview
Only 49% of students answer this correctly


Shelles

  • Hero Member
  • *****
  • Posts: 582
Reply #2 on: Apr 19, 2019
Excellent


janieazgirl

  • Sr. Member
  • ****
  • Posts: 300
Reply #3 on: Apr 19, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Tracking time of marker entry generates a chromosome map Tracking time of marker entry generates a chromosome map
The thermodynamics of protein folding depicted as a free-energy funnel The thermodynamics of protein folding depicted as a free-energy funnel
Free Energy Enzymes Free Energy Enzymes
In the summer of 1793, a yellow fever epidemic struck Philadelphia, killing nearly 4,000. Tens of th In the summer of 1793, a yellow fever epidemic struck Philadelphia, killing nearly 4,000. Tens of th
Plasma protein binding and drug availability. (a) Drug exists in a free state or bound to plasma ... Plasma protein binding and drug availability. (a) Drug exists in a free state or bound to plasma ...
First-order sensory neuron with free nerve endings First-order sensory neuron with free nerve endings
Video: Interview with Person who has Schizophrenia

For a complete list of videos, visit our video library