A firm in perfect competition is a price taker because
A) there are no good substitutes for its good.
B) many other firms produce identical products.
C) it is very large.
D) its demand curves are downward sloping.
E) its demand curve is vertical at the profit-maximizing quantity.
B
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How does the price system cope with depletable resources?
What will be an ideal response?
One major tax loophole intended to help state & local governments raise funds is
A. fiscal federalism. B. tax exempt municipal bond interest. C. tax deductible mortgage interest. D. tax credits for solar panels.
Give a specific example that shows clearly how the System of National Accounts endorsed by the United Nations fails to properly capture activity that harms the environment. Now, suggest a way to quantitatively correct the flaw in the particular case that you describe in part (a).
What will be an ideal response?
Describe some of the features hindering developing countries from growing faster
What will be an ideal response?