The market demand curve for a perfectly competitive industry is

a. perfectly horizontal
b. perfectly vertical
c. upward sloping
d. downward sloping
e. nonexistent in perfect competition


D

Economics

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A competitive equilibrium is not Pareto efficient if some members of society are unable to afford a necessary good

Indicate whether the statement is true or false

Economics

Refer to the above figure. Profits for this firm are negative

A) only for all points less than B. B) only at points B and C. C) for points between B and C. D) for all points less than B and greater than C.

Economics

Holding other things constant, if the Japanese Yen, depreciates, it makes the Japanese products

a. Less attractive to US customers b. More attractive to US customers c. Neither more nor less attractive to US customers d. None of the above

Economics

The higher the transaction cost of an exchange, the lower the probability of the exchange taking place between the buyer and the seller

Indicate whether the statement is true or false

Economics