A perfectly competitive firm a. has a perfectly inelastic demand. b. has a perfectly elastic supply. c. Answers A and B are correct. d. Answers A and C are correct. e. sells a product that has perfect substitutes.

Question

03-07-2021
Business

Answered

Westonci.ca is your trusted source for finding answers to all your questions. Ask, explore, and learn with our expert community. Join our platform to connect with experts ready to provide detailed answers to your questions in various areas. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

A perfectly competitive firm a. has a perfectly inelastic demand. b. has a perfectly elastic supply. c. Answers A and B are correct. d. Answers A and C are correct. e. sells a product that has perfect substitutes.

Sagot :

We appreciate your visit. Hopefully, the answers you found were beneficial. Don't hesitate to come back for more information. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Keep exploring Westonci.ca for more insightful answers to your questions. We're here to help.

•the total amount paid for the initial deposit and 6 months of rent is the same at all three apartment complex, $5150 •the initial deposit for apartment C is $

THE MATERIAL SELF IS a. who we are, determined by what we have b. who we are, determined by what others give us c. who we desire to be, created by buying things

does the northern or southern hemisphere have more land?

Acceleration is sometimes expressed in multiples of g, where g=9.8 m/s2 is the acceleration due to gravity. In a car crash, the cars velocity changes from 30 m/

Ron had 20 apples. He used 2/5 of the apples to make pies. How many apples did Ron use for pies?

I'm confused on this question: Cran-Soy trail mix costs $2.99 for 5 ounces, Raisin -Nuts costs $3.41 for 7 ounces, Lots of Cashews mix costs $7.04 for 8 ounces,

What strategy would be most useful when listening to a speech? __Drawing pictures in your notebook of the speaker or other elements of the speech __Pausing the

A manufacturing company with 450 employees begins a new product line and must increase their number of employees by 18%. How many total employees does the compa

Who was Abu Bakr in relation to Muhammad? a. the cousin of Muhammad's wife b. Khadijah Muhammad's third son c. Muhammad's cousin and the husband of Muhammad's d

Which of the following was a problem caused by the Yazoo land fraud? (Choose all that apply.) a. It created a conflict of interest. b. It forced Creek Indians t

ewomazinoade ewomazinoade · Answer 1 · 2021-07-04T20:30:20-04:00

Answer:

b

e

Explanation:

A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.

In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.

Sagot :

Other Questions