i want that you make sure that thecorrect answer

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i want that you make sure that thecorrect answer
	
Document Preview: ft,
-rftJ
1'Perfectcompetitionisdefinedasmarketstructureinwhich:
sellers'
small 
many 
are 
there 
a. 
homogeneous'
is 
b. the 
Product 
market'
exit the 
or 
to enter 
firils 
foi 
very 
it is 
c. 
"r*V 
the above'
all of 
d, 
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competition 
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quality'
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competition?
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Marginal output'
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revenue
total 
produced, the 
is 
output 
how much 
matter 
no 
perfect competition, 
7' Under 
curve is: 
line'
positively-sloped 
a' a 
line'
a negativelY-sloPed 
b. 
line'
straight 
horizontal 
c. a 
curve'
d. a U-shaPed 
curve'
hill-shaPed 
a 
e.athletic
of the 
revenue 
total 
the 
increases 
tickets 
price of football 
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in 
lf a increase 
is:
that demand 
is evidence 
this 
;;;;;"i, 
elastic'
a- 
Price 
inelastic'
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price'
to 
respect 
with 
c. unit...

David · Accepted Answer

1. D
2. D
3. A
4. C
5. D
6. C
7. E
8. B
9. TRUE-THIS IS BECAUSE MARLBORO HAS NO EXACT SUBSTITUTE, WHERAS CIGARETTES HAVE MORE SUBSTITUTES-SO DEMND IS MORE INE;LASTICFOR MARLBORO.
10. D
11. C
12. D
13. C
14. TRUE
There is no differentiation possible as all firms have homogeneous goods.
15. TRUE
This ensures normal profits in the long run.
16. TRUE
Yes this is the result of free entry and exit
17.

i want that you make sure that thecorrect answer Document Preview: ft, -rftJ 1'Perfectcompetitionisdefinedasmarketstructureinwhich: sellers' small many are there a. homogeneous' is b. the Product...

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