27. If the answer is correct simply answer true, if the questions is false, answer false...
27. If the answer is correct simply answer true, if the questions is false, answer false and then explain why the question is false. Unlike a perfectly competitive firm, a monopoly faces a perfectly elastic demand curve.
Homework Answers
False,
Perfect competition is a market where profit maximization happens at price is equal to marginal revenue.
Demand curve of this market is perfect elastic since price is decided by the market forces .
so price is constant here .
But in Monopoly, the price is only decided by the seller so demand curve of monopoly is not perfectly elastic demand curve
The demand curve of monopoly is downward sloping.
Add Answer to:
27. If the answer is correct simply answer true, if the
questions is false, answer false...
TRUE/FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You...
TRUE/FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You must read each statement carefully and then select the option that you believe is correct as your answer. In your answer book, write down only the question number and next to the number either True or False. Example: If you believe sub-question 2.11 is true, then write down: 2.11: True. 2.1. Peter is a plumber. He employs three workers and has some capital in...
DQuestion 17 2 pts A firm in a curve. market faces a demand Monopoly; perfectly elastic...
DQuestion 17 2 pts A firm in a curve. market faces a demand Monopoly; perfectly elastic Perfectly competitive; perfectly elastic Perfectly competitive; perfectly inelastic Monopoly; perfectly inelastic
The perfectly competitive firm's demand curve is: Perfectly elastic. Relatively elastic Perfectly inelastic. Relatively inelastic Statement...
The perfectly competitive firm's demand curve is: Perfectly elastic. Relatively elastic Perfectly inelastic. Relatively inelastic Statement 1: In the long run, firms in a monopolistically competitive industry will be producing that quantity that maximize social surplus. Statement 2: In the long run, firms in a monopolistically competitive industry will be producing at the minimum of its ATC curve. Statement (1) is true; statement (2) is false. Statements (1) and (2) are both true. Statement (1) is false; statement (2) is...
Question 2 [10] TRUE/FALSE QUESTIONS Consider the following list of statements. Each statement is either true...
Question 2 [10] TRUE/FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You must read each statement carefully and then select the option that you believe is correct as your answer. In your answer book, write down only the question number and next to the number either True or False. Example: If you believe sub-question 2.11 is true, then write down: 2.11. True. 2.1. 2.2. 2.3. Peter is a plumber. He employs three workers...
An individual price-taking firm faces a vertical, perfectly elastic demand curve for its output True False
An individual price-taking firm faces a vertical, perfectly elastic demand curve for its output True False
please solve both questions: QUESTION 1 A competitive firm faces for the good it is selling....
please solve both questions:
QUESTION 1 A competitive firm faces for the good it is selling. O A. a perfectly elastic demand cuve B. a perfectly inelastic demand curve OC. competition from a government franchise O D. a perfectly elastic supply curve QUESTION 2 A competitive firm might choose to set its price below the market price, because O A. this would result in higher average revenue. B. this would result in higher profits. C. this would result in lower...
Take a look at the statements below about a purely (or perfectly) competitive market. Indicate whether...
Take a look at the statements below about a purely (or perfectly) competitive market. Indicate whether each statement is true or false by moving the true or false labels to the appropriate boxes. 1. In general, the market demand curve in a purely competitive market is perfectly elastic. False True 2. In general, an individual firm in a purely competitive market faces a perfectly elastic demand curve. 3. An individual firm in a purely competitive market can obtain a higher...
Question 2 (10) TRUE FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false....
Question 2 (10) TRUE FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You must read each statement carefully and then select the option that you believe is correct as your answer. In your answer book, write down only the question number and next to the number either True or False 2.6. Monopolistic competition is a market structure characterised by the fact that there is often collusion between the sellers. 2.7. Half-price specials are...
the demand curve faced by a perfectly competitive firm is horizontal yes it a true or...
the
demand curve faced by a perfectly competitive firm is
horizontal
yes
it a true or false question
Class Name Chapter 8 -Micro Indicate whether the statement is true or false. 1. The behaviour of an individual perfectly competitive firm has a definite influence o a. True b. False Tee e a. True b. False 6. The market demand curve in a perfectly competitive industry is downward sl individual perfectly competitive firm is horizontal a. True b. False 7. To...
Which of the following statements is true of a monopolistically competitive firm? a. It produces more...
Which of the following statements is true of a monopolistically
competitive firm?
a. It produces more than a perfectly competitive firm.
b. Its profits are protected by significant barriers to
entry.
c. It charges lower prices than a perfectly competitive
firm.
d. It earns positive economic profits in the long run.
e. It faces a downward sloping demand curve.
.
Which of the following statements is false? B D Cost and Price E F Quantity Point B shows the level...
TRUE/FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You must read each statement carefully and then select the option that you believe is correct as your answer. In your answer book, write down only the question number and next to the number either True or False. Example: If you believe sub-question 2.11 is true, then write down: 2.11: True. 2.1. Peter is a plumber. He employs three workers and has some capital in...
DQuestion 17 2 pts A firm in a curve. market faces a demand Monopoly; perfectly elastic Perfectly competitive; perfectly elastic Perfectly competitive; perfectly inelastic Monopoly; perfectly inelastic
The perfectly competitive firm's demand curve is: Perfectly elastic. Relatively elastic Perfectly inelastic. Relatively inelastic Statement 1: In the long run, firms in a monopolistically competitive industry will be producing that quantity that maximize social surplus. Statement 2: In the long run, firms in a monopolistically competitive industry will be producing at the minimum of its ATC curve. Statement (1) is true; statement (2) is false. Statements (1) and (2) are both true. Statement (1) is false; statement (2) is...
Question 2 [10] TRUE/FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You must read each statement carefully and then select the option that you believe is correct as your answer. In your answer book, write down only the question number and next to the number either True or False. Example: If you believe sub-question 2.11 is true, then write down: 2.11. True. 2.1. 2.2. 2.3. Peter is a plumber. He employs three workers...
An individual price-taking firm faces a vertical, perfectly elastic demand curve for its output True False
please solve both questions:
QUESTION 1 A competitive firm faces for the good it is selling. O A. a perfectly elastic demand cuve B. a perfectly inelastic demand curve OC. competition from a government franchise O D. a perfectly elastic supply curve QUESTION 2 A competitive firm might choose to set its price below the market price, because O A. this would result in higher average revenue. B. this would result in higher profits. C. this would result in lower...
Take a look at the statements below about a purely (or perfectly) competitive market. Indicate whether each statement is true or false by moving the true or false labels to the appropriate boxes. 1. In general, the market demand curve in a purely competitive market is perfectly elastic. False True 2. In general, an individual firm in a purely competitive market faces a perfectly elastic demand curve. 3. An individual firm in a purely competitive market can obtain a higher...
Question 2 (10) TRUE FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You must read each statement carefully and then select the option that you believe is correct as your answer. In your answer book, write down only the question number and next to the number either True or False 2.6. Monopolistic competition is a market structure characterised by the fact that there is often collusion between the sellers. 2.7. Half-price specials are...
the
demand curve faced by a perfectly competitive firm is
horizontal
yes
it a true or false question
Class Name Chapter 8 -Micro Indicate whether the statement is true or false. 1. The behaviour of an individual perfectly competitive firm has a definite influence o a. True b. False Tee e a. True b. False 6. The market demand curve in a perfectly competitive industry is downward sl individual perfectly competitive firm is horizontal a. True b. False 7. To...
Which of the following statements is true of a monopolistically
competitive firm?
a. It produces more than a perfectly competitive firm.
b. Its profits are protected by significant barriers to
entry.
c. It charges lower prices than a perfectly competitive
firm.
d. It earns positive economic profits in the long run.
e. It faces a downward sloping demand curve.
.
Which of the following statements is false? B D Cost and Price E F Quantity Point B shows the level...
Most questions answered within 3 hours.
-
1. Why has Dunkin’ Donuts increased its focus on
coffee?
2. Describe the strategy that Dunkin’...
asked 58 seconds ago -
two lady bugs sit on a rotating disk without slipping. lady bug
1 is half away...
asked 5 minutes ago -
Core Concepts of Accounting Information Systems
Discussion Question #4
Does a company have the right to...
asked 10 minutes ago -
Why does the Solow model cannot explain growth in the long run?
What is the role...
asked 12 minutes ago -
Question 8 Interactive LearningWare 26.2 offers a review of the
concepts that play roles in this...
asked 17 minutes ago -
draw product of cyclohex-2-en-1-one, Sodium methoxide and
hydronium workup
asked 25 minutes ago -
In a certain state, about 65% of drivers who are arrested for
driving while intoxicated (DWI)...
asked 26 minutes ago -
A single NEC SX-9 vector processor unit (VPU) has a peak
arithmetic
performance of 102.4 GFs/s....
asked 44 minutes ago -
. Determine the hourly multiplication factors
such that the total daily water consumption will equal 15,000...
asked 45 minutes ago -
A budgeting Web site reported that 35% of U.S. households have
withdrawn money from a 401(k)...
asked 43 minutes ago -
In this assignment, you will write a minimum two-page paper that
explains the treatment of internal...
asked 48 minutes ago -
Direct marketing is also referred to as Question 50 options: 1)
one-to-one marketing. 2) business-customer marketing....
asked 51 minutes ago