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

Author Question: Which of the following assumptions about perfectly competitive markets is primarily responsible for ... (Read 55 times)

llesku

  • Full Member
  • ***
  • Posts: 175
on: Oct 12, 2022

Question 1

Which of the following terms would best describe the price elasticity of demand facing a perfectly competitive firm?
◦ inelastic
◦ perfectly inelastic
◦ elastic
◦ perfectly elastic
◦ unit

Question 2

Which of the following assumptions about perfectly competitive markets is primarily responsible for firms having zero economic profit in long run equilibrium?
◦ strategic behaviour
◦ homogeneous product
◦ consumers are aware of all firms' prices
◦ each firm is small relative to the size of the industry
◦ freedom of entry and exit in the industry
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by llesku on Oct 12, 2022

viper01

  • Full Member
  • ***
  • Posts: 160
Reply #1 on: Oct 12, 2022
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 39% of students answer this correctly


llesku

  • Member
  • Posts: 175
Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

dantucker

  • Member
  • Posts: 346
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

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?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Lineweaver–Burk plots of the reactions with and without a competitive inhibitor Lineweaver–Burk plots of the reactions with and without a competitive inhibitor
Land use change and forestry are responsible for 18% of global greenhouse gas emissions Land use change and forestry are responsible for 18% of global greenhouse gas emissions
Farmers’ markets provide fresh, local produce to consumers Farmers’ markets provide fresh, local produce to consumers
The Economics of Money, Banking and Financial Markets, Business School Edition The Economics of Money, Banking and Financial Markets, Business School Edition
Explain the assumptions that must be satisfied in order to validly use the one-way ANOVA ... Explain the assumptions that must be satisfied in order to validly use the one-way ANOVA ...
Energy homeostasis is regulated primarily by the brain, gastrointestinal tract, other organ systems, Energy homeostasis is regulated primarily by the brain, gastrointestinal tract, other organ systems,
Video: EpiPen Animation (Part 1)

For a complete list of videos, visit our video library