According to Scenario 8.1, Fizzle and Sizzle
A) would be perfectly competitive if their purification costs were equal; otherwise, not.
B) would be perfectly competitive if it costs Fizzle $500,000 yearly to keep that land.
C) may or may not be perfect competitors, but their position on the river has nothing to do with it.
D) cannot be perfect competitors because they are not identical firms.
C
You might also like to view...
The above figure shows the market for steel ingots. What is the change in consumer surplus if the market switches from competitive equilibrium to social optimum?
A) $625 B) $1250 C) $1875 D) $2500
Which of the following is a shortcoming of GDP?
a. GDP measures used goods and services. b. GDP includes changes in inventories. c. GDP includes the value of net exports. d. GDP does not make an allowance for leisure time.
Which of the following are ways to ration goods and services?
A. price B. political power C. physical force D. All of these are correct.
Which event was most important in promoting the belief that the U.S. government should work to ensure economy-wide stability?
A. the California Gold Rush B. the Civil Rights Movement C. World War II D. the Great Depression