Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Dec 13, 2022

Which of the following is not one of the assumptions of a perfectly competitive market? OA. Better information for producers than consumers OB. Homogeneous

Which of the following is not one of the assumptions of a perfectly competitive market? OA. Better information for producers than consumers OB. Homogeneous product OC. Free entry and exit D. Large number of buyers and sellers

Step by Step Solution

★★★★★

3.39 Rating (140 Votes )

There are 3 Steps involved in it

Step: 1

A perfectly competitive market model includes the following assumptions 1 Goods ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Exploring Economics

Authors: Robert L Sexton

5th Edition

978-1439040249, 1439040249

More Books

Students also viewed these Economics questions

Question

★★★★★

Which of the following is not one of the major types of pronouncements issued by the International Accounting Standards Board (IASB)? a) International financial reporting interpretations. b)...

Answered: 1 week ago

Question

★★★★★

Which of the following is not one of the major categories of costs associated with quality? a. prevention costs b. appraisal costs c. internal failures d. external failures e. none of the above, they...

Answered: 1 week ago

Question

★★★★★

Which one of the following is not one of the three main sections in the statement of cash flows for a company? a. Earning activities b. Financing activities c. Operating activities d. Investing...

Answered: 1 week ago

Question

★★★★★

Find the minimum value of the function: f(x) = x^4 - 6x^2 + 9 on the interval [-2,2].

Answered: 1 week ago

Question

★★★★★

In its 2012 annual report, Starbucks shows that as of September 30, 2012, it owned $790.8 million in marketable securities designated as available-for-sale. On the same date, Starbucks owned $57.6...

Answered: 1 week ago

Question

★★★★★

Prove: If A is an m n matrix and x Rn, then either Ax = 0 or there exists y R(AT) such that xTy 0. Draw a picture similar to Figure 5.2.2 to illustrate this result geometrically for the case...

Answered: 1 week ago

Question

★★★★★

=+51. Hawaii tourism 2013. In Exercise 39, we fit a linear regression for the number of monthly domestic visitors to Hawaii (for the years 2002 through 2006) using Time and dummy variables for the...

Answered: 1 week ago

Question

★★★★★

1. How are pricing, currency of denomination, and financing interrelated in the value-chain for Crosswell's penetration of the Brazilian market? Can you summarize them using Exhibit B? 2. How...

Answered: 1 week ago

Question

★★★★★

Go to the Introduction section on page 1 and insert a new placeholder named Navarro at the end of the body paragraph ( after your advantage and before the period ) .

Answered: 1 week ago

Question

★★★★★

Now that operations for outdoor clinics and TEAM events are running smoothly, Suzle thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU)...

Answered: 1 week ago

Question

★★★★★

Susan moved to Canada at the age of 42. She is now 65. If the maximum monthly Old Age Security is $642, how much would she receive per month? $642 $369 $321 $316

Answered: 1 week ago

Question

★★★★★

The chief audit executive (CAF) determined that the residual risk identified in an assurance engagement is acceptable. When should this be communicated to senior management? A. When the CAE reports...

Answered: 1 week ago

Question

★★★★★

Parts a, b, c and d of this question are independent of one another. a) firm A wants to acquire firm B to achieve economies of scale. Does this motive make economic sense? Answer in terms of YES or...

Answered: 1 week ago

Question

★★★★★

A software company wants to improve its customer experience scores by 3% over the next 30 days. A data professional works to achieve this objective by understanding current scores and how far away...

Answered: 1 week ago

Question

★★★★★

ABC Insurance Company has a branch office, which consists of a branch manager and 5 clerical assistants. The branch manager reports to a division manager. The branch office has its own bank account...

Answered: 1 week ago

Question

★★★★★

A large tank of fish from a hatchery is being delivered to a lake. The hatchery claims that the mean length of fish in the tank is 15 inches, and the standard deviation is6inches. A random sample...

Answered: 1 week ago

Question

★★★★★

Consider these transactions: a) Tastee Restaurant accepted a Visa card in payment of a $200 lunch bill. The bank .

Answered: 1 week ago

Question

★★★★★

The Adjusted Trial Balance columns of a 10-column work sheet for Webber Co. follow. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by...

Answered: 1 week ago

Question

★★★★★

Use the diagram to answer the following questions (ad). a. At the equilibrium price before the tax is imposed, what area represents consumer surplus? What area represents producer surplus? b. Say...

Answered: 1 week ago

Question

★★★★★

Why is a reduction in the required reserve ratio such a powerful monetary policy tool? Why is it so seldom used?

Answered: 1 week ago

Question

★★★★★

True or False: 1. At the natural rate of unemployment, the economy is producing its potential output. 2. When the economy is experiencing cyclical unemployment, the unemployment rate is less than the...

Answered: 1 week ago

Question

★★★★★

A manufacturing firm produces a product that has a ceramic coating. The coating is baked on to the product, and the baking process is known to produce 15% defective items (for example, cracked or...

Answered: 1 week ago

Question

★★★★★

The Center for the Study of the American Electorate indicated that 64% of the voting-age voters cast ballots in the 2008 presidential election. It also indicated in the west, 34.6% of voting-age...

Answered: 1 week ago

Question

★★★★★

Given a binomial distribution with n = 8 and p = 0.40, obtain the following: a. The mean b. The standard deviation c. The probability that the number of successes is larger than the mean d. The...

Answered: 1 week ago

Previous Question Next Question