Competitive enterprises are those in which: a. The output of both can enterprises can be increased...
Competitive enterprises are those in which: a. The output of both can enterprises can be increased at the same time. b. The output of one can be increased with no change in the output of the other. c. The output of one can be increased only by reducing output of the other. d. Their substitution ratio is decreasing.
Homework Answers
Competitive enterprises are those in which
Ans
C. The output of one can be increased only by reducing the output of the other
Explanation: Competitive enterprises are those in which, the output of one can be increased only by reducing the output of the other. In Competitive enterprises, there is also constant increasing substitution.
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Competitive enterprises are those in which: a. The output of
both can enterprises can be increased...
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#16
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If a perfectly competitive firm is producing a quantity where MC < MR, then profit: Select...
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• Consider two countries, Tanzania and Italy. Further assume output in both countries can be defined...
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27. If consumers' income increases by one dollar and consumers consume both food and non-food, a....
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20. Which of the following statements is not a characteristic of a perfectly competitive firm? a....
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#16
As discussed in this chapter, investment can be increased both by reducing taxes on private saving and by reducing the government budget deficit. Why would you conclude that it's difficult to implement both of these policies at the same time? Because doing both at the same time results in less money that the government can spend in the short term Because the attention span of Congress is limited to doing one thing at a time. Both A and B...
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