The demand curve for the output of a perfectly competitive firm is
a. perfectly inelastic.
b. perfectly elastic.
c. a rectangular hyperbola with an elasticity equal to 1.
d. identical in shape to the market demand curve.
b. perfectly elastic.
You might also like to view...
Which of the following would decrease the natural rate of unemployment?
A) a decrease in government-sponsored programs that train unemployed workers so they can find new jobs quickly B) an increase in the generosity of unemployment insurance programs C) fewer restrictions on unions to negotiate wage changes with companies D) a decrease in the number of younger, less skilled workers in the economy
An example of an increase in b, the efficiency of human capital accumulation, is
A) more mandatory school years. B) better teachers. C) better school material. D) better total factor productivity.
U.S. imports of sugar
a. have been illegal since the mid-1980s b. harm U.S. sugar producers c. increase the U.S. government's revenue d. are restricted by tariffs e. are restricted by import quotas
Which two resources do realists see as particular sources of conflict in future collaboration and cooperation over the environment?
a. forests and natural vegetation b. oil and water c. oceans and minerals d. farmland and livestock